MarketWatch Premium: The stock market may not be as overvalued as most people think, according to new research

Might low interest rates justify what otherwise appears to be extreme overvaluation in the stock market?

I’ve argued on previous occasions that they do not. But a new study has led me to at least partially reconsider my position.

The reason for my earlier skepticism was the faulty reasoning used by many who compare the Treasury’s 10-year yield…