The ratio between large cap stocks total return index and long-term US government bonds total return index is another good measure of risk vs. risk-aversion money flows.
What should be a bit concerning to equity bulls is the similarities between the second great depression and today. Looks very similar in terms of cycles to 1938-1939.
U.S. Large Cap Stocks Total Return Index (LCSTRI) to Long-Term U.S. Government Bonds Total Return Index (LTGBTRI) Ratio:
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