S&P 500 Valuation - Blended P/E Ratio and Equity Risk Premium

Should investors take a cautious approach to U.S. equities as the S&P 500’s P/E ratio remains elevated? Are investors compensated enough for the risk of owning U.S. equities rather than bonds?

Image: Topdown Charts

S&P 500 Valuation - Blended PE Ratio and Equity Risk Premium