Skip to content
Sep 08 2023

A Flawed Model Proves Our Point

  • Sep 8, 2023

In early September, rising bond yields and a falling Forward Earnings Yield caused the Fed Model to rank the S&P 500 at its least-attractive level relative to Treasury bonds since mid-2002. We think this illustrates—better than any other measure—why market pundits have finally jilted their mistress of a dozen years: TINA.


For full access, please enter your credentials.

About The Author

Doug Ramsey / Chief Investment Officer & Portfolio Manager