How I Diagnose S&P 500 With Junk Bond Rates

2026-02-28 06:00:00 ET

Junk bond yield is my depth indicator

We wrote an article a few days ago ( titled “These Flawed Arguments Can Be Especially Misguiding In 2026”) and offered some counterarguments against bearish interpretation of the equity market based on high P/E ratios and substantial price rallies in recent years. After thinking over the issue for a few days, we felt that the analysis could use a follow-up. That analysis focused more on pointing out the flaws of common indicators such as high P/E without really offering alternative ideas to diagnose the market....

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