Essentially: 1) Stocks are super expensive, so future yields from stocks are expected to be low. (Since price increases will be low and dividend per invested d

Essentially: 1) Stocks are super expensive, so future yields from stocks are expected to be low. (Since price increases will be low and dividend per invested dollar will be low.) 2) Bonds yields are super low, because interest rates are super low. This means that logically you should put your money into other investments. Which just isn't happening that much . Uncertainty has led to a "flight to safety" into US stocks and cash. Investors currently seem to prefer buying big, expensive companies instead of gambling on higher yield/risk investments.