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Sunday 22 February 2015

As a result, the yield on ten-year Treasury notes now exceeds the ratio of twelve-month-ahead earnings to prices.

http://en.wikipedia.org/wiki/Fed_model

As a result, the yield on ten-year Treasury notes now exceeds the ratio of twelve-month-ahead earnings to prices by the largest amount since 1991, when earnings were depressed by the economic slowdown."

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