Stocks haven’t been this expensive relative to bonds in almost 25 years. Is a market downturn next? - MarketWatch
1. Bonds looks appealing; equities at high valuations signal a shift. 2. Pimco notes zero equity risk premium, indicating potential market volatility. 3. Historical data suggest market declines followed past zero equity risk premiums. 4. Rising 10-year Treasury yields reflect fiscal concerns and potential rates hold. 5. Uncertainty around tariffs may lead Fed to avoid interest rate cuts.