Heading Into Jackson Hole With Record Duration Risk
August 14, 2021 at 14:45 PM EDT
While there is good news -- with forward S&P 500 EPS tracking +27% year-to-date and the 10-year yield dropping 40 bps since March’s peak thus pushing the ratio of S&P dividend yield vs. the 10-year yield back up to 0.95x -- risks still loom ahead.