S&P 500 equity risk premium collapses to lowest since 2009

The spread between the S&P 500's earnings yield and the 10-year Treasury yield has fallen to -1.5 percentage points, its lowest since 2009, meaning 10Y Treasuries now yield more than the S&P 500 earnings yield. The spread has fallen 440 basis points since 2022, the largest 5-year decline on record.

Detected & updated continuously · Source: Nebula