🚨LATEST: The 30-year Treasury yield just hit 5%.



The 10-year is at 4.40%+, now exceeding the S&P 500's earnings yield by 90 basis points.

This is the second deepest negative equity risk premium in 23 years!

Stocks at record highs. Bonds are screaming rotate to risk-free yield.

Yet history shows the worst equity risk premiums has preceded the best returns.
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