The roaring US stock market has delivered red-hot gains in recent history, but at the expense of future returns. That, at least, is one interpretation via earnings-yield and dividend-yield models that estimate the ex ante equity risk premium (ERP). Based on a specific run of number crunching, this pair continues to estimate a negative ERP.
Daily Archives: March 26, 2024
Macro Briefing: 26 March 2024
* US economic resilience suggests delaying rate cuts, writes strategist Ed Yardeni
* New US home sales eased in February but remain above last year’s pace
* Survey reveals nearly half of managers aim to replace workers with AI
* Texas manufacturing activity weakens in March: Dallas Fed
* US economic activity rebounded in March via Chicago Fed Nat’l Activity Index:
