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Valuation

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Stock Valuation Measures: S&P 500 Index

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S&P 500 Rolling 10-Year Returns

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U.S. Trade Weighted Dollar Since 1974

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Real Assets Inflation Protection

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Median Price/Book for U.S. Stocks

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Difference in Real Yield expectations between stocks and bonds is near historical average

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U.S. Equity and Bond Real Yields

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MSCI Emerging Markets Relative Shiller P/E Ratio

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MSCI Emerging Markets Relative to GDP

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MSCI Emerging Markets Relative to MSCI World P/E

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