With US Treasury yields so low right now, yields on equities have become increasingly competitive. Granted, Treasuries have considerably less capital risk than equities, but from a historical perspective, it isn't typical for stocks to yield more than Treasuries. Then again, is anything typical these days? While there have been short periods in recent history where the S&P 500 has had a higher dividend yield than the 10-year US Treasury, right now the 10-year yield (2.05%) is just under 20 bps higher than the dividend yield of the S&P 500 (1.87%).
For a large percentage