The Relationship Between S&P 500 P/E Ratios and US Interest Rates
Value Scope
NOVEMBER 17, 2022
As a follow up to our more comprehensive 2017 paper and 2018 paper , this paper will strictly focus on the historical and current relationship between the S&P 500 P/E Ratio and US Interest Rates, updated to November 2022. Earnings in the S&P 500 are calculated using the 12-month earnings per share of “current” earnings.
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