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S&P 500 Earnings Yield vs 10Y Treasury
A monthly valuation chart that compares what stocks are offering in earnings yield versus what Treasuries are offering in bond yield, which helps frame how generous or thin the equity risk premium looks.
The deep history is for NASDUCK paid members.
This free chart covers the last five years. Everything older, plus the CSV and JSON downloads, comes with a paid NASDUCK subscription.
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The latest series values and a keyboard-readable date table are below the chart. CSV and JSON downloads are for NASDUCK paid members.
Dates & readable data
Selected historical events
Curated anchors for market context, rather than a complete news feed. Toggle markers above to place them on the chart.
How To Read It
- When the earnings-yield line is well above the 10-year yield, equities have a larger implied yield cushion versus bonds.
- When the gap compresses, valuations are getting richer relative to what investors can earn in Treasuries.
- This is a monthly chart, so it is best for regime context rather than short-term trading noise.
Next step Charts show what moved. NASDUCK asks why.
Rates, the dollar, oil and gold all end up in the Nasdaq-100 eventually. NASDUCK follows that trail once a week and keeps score on its own calls.