However, this relationship changed fundamentally in the late 1950s. Bond yields exceeded dividend yields and remained that way for the next 50 years, until the 2008 financial crisis. This shows that market relationships are not static and sometimes undergo long-term structural shifts.

Market dynamics can undergo significant shifts over time, as seen when bond yields surpassed dividend yields in the late 1950s. This 50-year trend was disrupted by the 2008 financial crisis, highlighting the evolving nature of market relationships.