Jurrien Timmer says the 5-year CAPE ratio remains near record highs last seen in 1929, 2000 and 2021, signaling still-stretched equity valuations. He points to

Jurrien Timmer says the 5-year CAPE ratio remains near record highs last seen in 1929, 2000 and 2021, signaling still-stretched equity valuations. He points to higher operating margins and tighter credit spreads, with AI and chip speculation still active.