With the 10-Year US Treasury now yielding 1.74%, it is now paying a coupon that is less than the dividend yield of more than half of the stocks in the S&P 500. As of Monday’s close, there are now 271 stocks in the S&P 500 that have a greater yield than the 10-Year US Treasury. Of the remaining 229 stocks in the index, 126 have a dividend yield that is less than the 10-Year US Treasury, while 103 pay no dividend at all.
Data: Bespoke
Even when you adjust for Fed actions, stocks look cheap relative to bonds, making the case for more potential market upside.
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