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Things that make you go hmmm...

Real rates rule

S&P 500 NTM P/E has closely tracked the path of real rates.

Source: Goldman
Source: Macrobond
Source: BofA
Source: GS
Source: Compound
Source: Refinitiv
Source: Refinitiv
Source: Macrobond
Source: Macrobond
Source: Macrobond
Source: Goldman
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