Sensitivity of S&P 500 to U.S. 10-Year Treasury Yield and Equity Risk Premium (ERP)

The 4700 year-end target for the S&P 500 index assumes ERP of 4.8% and U.S. Treasury yield at 1.6%.

Image: Goldman Sachs Global Investment Research

Sensitivity of S&P 500 to U.S. 10-Year Treasury Yield and Equity Risk Premium (ERP)