May 17 2021
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Valuation - S&P 500 NTM P/E vs. Gap Between S&P 500 Earnings Yield and U.S. 10-Year Treasury Yield

Goldman Sachs expects a roughly flat S&P 500 P/E multiple through 2022.

Image: Goldman Sachs Global Investment Research

S&P 500 NTM P/E vs. Gap Between S&P 500 Earnings Yield and U.S. 10-Year Treasury Yield