Four months after the late-March bottom, equity risk premia worldwide have all mean-reverted. In a world of extreme disequilibrium in so many ways, equities and fixed income appear to be in perfect equilibrium.
Global Equity Risk Premia
Global Equity Risk Premia
Friday, April 24, 2020
Risk premia world-wide have healed from their month-ago peaks, back to about GFC means. You're going to want to check out the energy sector: negative forward earnings makes for a low ERP.
Global Equity Risk Premia
Monday, March 2, 2020
Testing the widest premia since the Global Financial Crisis, and the US is no longer the worst-valued country.
Global Equity Risk Premia
Monday, November 25, 2019
Turkey, Brazil and Spain are the best value propositions (US is third worst).
Global Equity Risk Premia
Monday, July 29, 2019
The US equity risk premium is just about the least attractive in the world.