Stocks Will Struggle to Beat 5% Treasurys, Strategists Say. And What the Heck Is ‘Out-Dexing?’

A top Wall Street forecaster told me how to beat the stock market from here: Buy a Treasury bill. I would leak the tip on Reddit, but I’m not sure how many moon rocket emojis to use.

A six-month Treasury yields 5.1%. That’s close to the “earnings yield” of the


S&P 500


or earnings as a percentage of price. On that basis, safe bonds are the best deal they’ve been relative to stocks in decades.