Purves Has Never Seen an Equity Rally This Hated

The transcript discusses a framework for evaluating the S&P 500 based on relative valuation metrics, focusing on the forward earnings yield and treasury yields. It highlights the role of big tech companies in driving market dynamics and the impact of low interest rates and central banking policies on economic outlook. The discussion also covers the equity rally, market sentiment, and the Federal Reserve's influence on interest rates and inflation. Finally, it touches on debt issuance by companies like Alphabet and its implications for market strategies.

What does the speaker suggest about the current equity rally?

How does the speaker describe the current sentiment towards equities?

What potential risks are associated with rising inflation according to the speaker?