Stock market is quite inflated based on inflation adjusted historical data.
https://www.multpl.com/shiller-pe
Interesting chart there. But I would like to see something that compares the stock market’s p/e to bond rates.
Because let’s say a 10-year Treasury bond is paying 5%. That’s a safe haven from an inflated stock market. But such bonds are now paying less than 2%. That’s not a very attractive alternative.
So I guess what I’m saying is that an inflated stock market might have quite a ways to go if there are no other alternatives.