According to @KobeissiLetter, Japan's 10-year government bond yield has risen to 1.66%, the highest since 2008 and eight times higher than in 2022. According to @KobeissiLetter, this now exceeds the S&P 500's dividend yield at 1.16%, the lowest since 2001, marking the first crossover since 2007. According to @KobeissiLetter, investors can currently earn more income from Japanese 10-year government bonds than from S&P 500 dividends, and the S&P 500's dividend yield exceeded Japan's 10Y by 2.35 percentage points in 2020, underscoring a rapidly shifting global investing landscape.