The Fed needs to cut more than once for stocks to be attractive vs. bonds – analyst

seekingalpha09-07

The S&P 500 (SP500) remains undervalued compared to corporate bonds (HYG), (LQD), (PTY), according to trailing GAAP earnings. In a note, Ed Clissold, chief U.S. strategist at Ned Davis Research, said...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2465464481?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1140147076/image_1140147076.jpg","is_english":true,"pubTime":"2024-09-07 02:31","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2465464481","market":"hk","top_or_hot":-1,"title":"The Fed needs to cut more than once for stocks to be attractive vs. bonds – analyst","media":"seekingalpha","content":"<div>\n<p>The S&P 500 (SP500) remains undervalued compared to corporate bonds (HYG), (LQD), (PTY), according to trailing GAAP earnings.  In a note, Ed Clissold, chief U.S. strategist at Ned Davis Research, said...</p>\n\n<a href=\"https://seekingalpha.com/news/4147743-the-fed-needs-to-cut-more-than-once-for-stocks-to-be-attractive-vs-bonds-analyst\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Fed needs to cut more than once for stocks to be attractive vs. bonds – analyst</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Fed needs to cut more than once for stocks to be attractive vs. bonds – analyst\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-07 02:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4147743-the-fed-needs-to-cut-more-than-once-for-stocks-to-be-attractive-vs-bonds-analyst><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 (SP500) remains undervalued compared to corporate bonds (HYG), (LQD), (PTY), according to trailing GAAP earnings.  In a note, Ed Clissold, chief U.S. strategist at Ned Davis Research, said...</p>\n\n<a href=\"https://seekingalpha.com/news/4147743-the-fed-needs-to-cut-more-than-once-for-stocks-to-be-attractive-vs-bonds-analyst\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PTY","symbol_name":"PIMCO企债收益机会基金","start_time":0,"source_url":"https://seekingalpha.com/news/4147743-the-fed-needs-to-cut-more-than-once-for-stocks-to-be-attractive-vs-bonds-analyst","article_id":"2465464481","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1140147076/image_1140147076.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2465464481","pubTimestamp":1725647486,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The S&P 500  remains undervalued compared to corporate bonds , , , according to trailing GAAP earnings.  In a note, Ed Clissold, chief U.S. strategist at Ned Davis Research, said that stocks are not nearly as attractively valued, compared to the short end of the yield curve. “Stocks had gone from cheap to fairly valued, but in the past few weeks returned to the attractively valued zone,” he said. The S&P 500  GAAP earnings yield is 1.6 percentage points lower than Treasury bill yields , and this is near its most expensive spread since December 2000. So, for stocks to be “attractive” compared to other asset classes, long-term bond yields need to remain low, but also the Fed needs to cut interest rates multiple times before the end of the year, Clissold said.","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PTY":"PIMCO企债收益机会基金","IVV":"标普500指数ETF","SH":"标普500反向ETF","HYG":"债券指数ETF-iShares iBoxx高收益公司债","VOO":"Vanguard标普500ETF","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","SPXU":"三倍做空标普500ETF","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SDS":"两倍做空标普500ETF","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓","OEX":"标普100",".SPX":"S&P 500 Index","BK4588":"碎股","LQD":"债券指数ETF-iShares iBoxx投资级公司债","BK4581":"高盛持仓","BK4504":"桥水持仓","BK4561":"索罗斯持仓","TBIL":"US Treasury 3 Month Bill ETF"},"translate_title":"分析师表示，美联储需要不止一次降息才能使股票相对于债券具有吸引力","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TBIL":1,"PTY":1,"US10Y.BOND":1,"US12M.BOND":1,"US7Y.BOND":1,"US6M.BOND":1,"US5Y.BOND":1,"US3Y.BOND":1,"US30Y.BOND":1,"HYG":1,"US2Y.BOND":1,"LQD":1,"SPY":0.73,"VOO":0.73,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6,"UPRO":0.6,"SSO":0.6,"SH":0.6,"SPXU":0.6,".SPX":0.6,"SDS":0.6,"OEX":0.6,"OEF":0.6,"IVV":0.6,"ESmain":0.6},"content_text":"The S&P 500 (SP500) remains undervalued compared to corporate bonds (HYG), (LQD), (PTY), according to trailing GAAP earnings.  In a note, Ed Clissold, chief U.S. strategist at Ned Davis Research, said that stocks are not nearly as attractively valued, compared to the short end of the yield curve. “Stocks had gone from cheap to fairly valued, but in the past few weeks returned to the attractively valued zone,” he said. The S&P 500 (SP500) GAAP earnings yield is 1.6 percentage points lower than Treasury bill yields (TBIL), and this is near its most expensive spread since December 2000. So, for stocks to be “attractive” compared to other asset classes, long-term bond yields need to remain low, but also the Fed needs to cut interest rates multiple times before the end of the year, Clissold said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2465464481"}