Supposedly a Ben Graham valuation

From an article in June 2024 AAII journal: Supposedly Ben Graham use the benchmark Treasury yields compared to earnings yield of the S&P 500 (earnings divided by price) to assess relative valuations. For the last few months the yield of the 10 year bond has exceeded the earnings yield. It looks like 4.5something% for the ten year, and around 3.8% for the S&P. Of course, this is just one metric in deciding how to position your portfolio.

Yes, I recall that from the book.