‘Fancied’ midcaps & ‘narrative’ stocks at risk as D-Street adjusts to new reality
For now, the 12-month forward earnings yield stands at 4.6 per cent and bond yield, as suggested by 10-year government bond yield at 6 per cent. The beer ratio, defined as bond-equity earnings yield, stands at 1.3. A value above 1 suggests equities are no cheap.