Tweet from Bill Gross: All risk asset prices artificially high. When won't they be? When they don't produce growth in real economy. Is 2% GDP enough?
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With S&P500 price/earnings multiple around 16x, US 10 year treasury p/e multiple (ie. reciprocal of yield) around 40x and US cash at 25bp implying p/e of 400x . Cash is the expensive asset. All other assets are relatively cheap.