The Extra Reward for Owning Stocks Over Bonds Has Disappeared - WSJ

1. Equity risk premium dipped below zero for first time since 2002. 2. Investors are still optimistic, pouring $62.5 billion into equity funds. 3. High valuations and potential rate hikes pose risks to stock prices. 4. Major tech stocks remain favored by individual investors despite risks. 5. 36% of fund managers view rising yields as a bearish signal for stocks.