The strength of the economy and the subsequent expectations of interest rate cuts may cause the US long-term interest rates to remain high or even rise? At the same time,S&P500could raise awareness of overvaluation among market participants? By checking this point with the stock profit yield of the S&P 500, the US 10-year bond yield, and the yield spread (stock profit yield - long-term interest rate), it shows that the S&P 500 is overvalued relative to US interest rates. If US interest rates continue to rise, market caution towards the overvaluation of the S&P 500 may also increase.The past... well, there have been quite a few prolonged adjustment phases.
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