% Since 2000

June-1-2025
Updated Monthly

Secular Market Top* - Since January 2000

+343.9% Dow       

+619.1% Transports 

+291.6% Utilities

+415.9%  S&P 500

+562.8%  Nasdaq

+ 23.0%  30yr Treasury Bond

+1474.8% Gold

+241.3% Oil
+101.7% Swiss Franc 

    

From High to Low - Since Year 2000

+1474.8%  Gold

+619.1%  Transports

+562.8%  NASDAQ

+415.9%  S&P 500

+343.9%  Dow

+291.6%  Utilities

+241.3%  Oil

+101.7%  Swiss Franc’s

+23.0%  30yr Treasury Bonds

December 1999 Shiller PE10 was 44.19               
August 2000 S&P 500 dividend yield was 1.11%  

Shiller PE10 6-1-25 is 42.66  145% above its mean (17.38) since 1871.

S&P 500 dividend yield 6-1-25 is 1.03%  76% below its mean of 4.21% since 1871.

[Shiller PE10 & dividend yield is reported using data from the beginning or end of the month when I update.  It may or may not exactly be the first or last trading day of the month.]

6-1-25

S&P 500 Shiller PE Stock-earnings yield 2.34%

Bond rate 5.50%

Stock-earnings yield/bond yield = 43% of  present bond yield.

Dividend yield/bond yield = 19% of the present bond yield.

*Measured by valuations.  

Year 2000 Shiller PE peaked at 44.19 with a scant S&P 500 dividend yield at 1.11%.  This high Shiller PE has not been surpassed since 1871 however, the low dividend yield has now been surpassed as of May of 2026 at 1.03%.

    

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It is easily seen in the year 2000 the Nasdaq was horribly overvalued and gold was on the give away table, such lopsided returns 25+ years later!