The Equity Risk Premium Has Disappeared Key Insights: The gap between stock earnings yields and 10-year Treasury yields has nearly vanished. Despite this, individual investors are still actively favoring equities. Historically, such conditions are reminiscent of pre-crisis periods, raising concerns about current stock valuations. As markets evolve, it’s crucial for investors to reassess risk-return assumptions and stay vigilant about potential changes in market dynamics. #StockMarket #Bonds See more