Commentary

What Does The Equity Risk Premium Say About Today's Market?

by Adam Steffanus, CFA on August 27, 2026

Starting valuations have mattered much more for long-term returns than near-term market direction. " \n After several years near historically low levels, the real U.S. Equity Risk Premium (ERP) has begun to rise. At roughly 2.0%, it remains well below its long-term average of approxim …

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