Chart Library
2026-09-23

S&P 500 Forward P/E Falls to About 20x as Rate Expectations Rise

S&P 500 Forward P/E Falls to About 20x as Rate Expectations Rise

Key points

S&P 500 forward P/E versus futures-implied October 2026 Fed funds (inverted) | Forward P/E down from 24x to about 20x as implied rates rise toward 3.8%

Image source: @acemaxx