Dear Chart of the Day Fan:
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Tumblr page.
Thanks for your interest. It’s appreciated.
“Stock-market valuations may not be as absurd as some people think,” Yale University Professor Robert J. Shiller wrote Monday in a commentary for the Project Syndicate website. Shiller and co-authors Laurence Black and Farouk Jivraj cited the excess CAPE yield, a gauge that reflects average earnings for the previous 10 years and inflation-adjusted bond yields. U.S. stocks offered 3.9 percentage points more yield than bonds in November, according to data compiled by Shiller. The gap, or excess yield, was in line with its monthly average of 3.8 points since December 1970.
Stocks Editor, Bloomberg RadioEditor, Chart and Stock of the DayStock of the Hour, Bloomberg Television
Author, Visual Guide to Financial Markets