1.   Similarly, the earnings yield will equal the discount rate.

2.   And for sure, analysts have not finished cutting earnings estimates, which are the basis of the predicted earnings yield.

3.   The earnings yield is the inverse of the price-to-earnings ratio.

4.   Usually, earnings yields are much more closely linked to interest rates.

5.   When the earnings yield gets abnormally low, stocks look pricey and investors favor bonds.

6.   When the earnings yield gets unusually high, stocks look cheap and investors favor stocks.