"Updated charts on that theme you discussed on Friday - please feel free to use.

"Your subscriber was looking for the EY on the S&P 500 - I would make the comment that it is dangerous to compare the earnings yield on the S&P 500 with that of a bond yield for two reasons

(i) S&P 500 earnings have proved erratic and not at all bond-like

(ii) US Earnings are currently at a peak relative to GDP - not so the consumer franchises"

Eoin Treacy's view Thanks to Rory Gillen of the InestRCentre for updating these unique charts and for your generosity in sharing them with the Collective. Your points rhyme with those I made on Friday.

The chart I posted of the S&P500 yield overlaid with 10yr Treasury yields demonstrated that the wider market does not compare favourably with the total return offered by dividend aristocrats, many of which fall into your global franchise category.

I consider companies leveraged to the global economy, either in the consumer or commodity sectors that pay reliable dividends to be excellent vehicles to keep pace with inflationary pressures, particularly as Treasury yields rise over the long term.