Returns

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Bonds relative value vs. equities presents a potentially compelling forward-looking opportunity

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Value vs Growth Performance Cycles

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S&P 500 30 Year Returns

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Calendar Year Return of Bloomberg Municipal and Bloomberg US Aggregate Bond Indexes

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5 Year Treasury Yields vs. 5 Year Returns

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Bond Market Returns by Decade

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High Yield Bond Spread

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S&P 500 Peak EPS Yield vs. BAA Yield

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Components of S&P 500 10-Year Rolling Real Returns

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S&P 500 Valuations vs. Future 10-Year Real Returns

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