BLOOMBERG Whatd You Miss July 13, 2024
This year, last friday, that round of risk off. It underperformed. That is true today. Over the last two days, down 2. 8 , the worst in more than a month. Investors not buying that area. One factor that could be at play, valuation. In blue, looking at the forward pe on the s p 500. Coming out of the financial crisis in 2009, we see suppressed levels for both. Over the past five years, lets call it 14 to 16 times. A pe on thee had s p 500 of about 8. 4 times. Unable to get back to that level. Last week hitting 20 times forward earningss, coming off of that level. It may suggest there could be a...