Do you use this? It is a way to gauge the value of stocks to gilts – a UK government bond.

This ratio, based on income as opposed to capital gains, describes yield on gilts divided by the yield on equities. It helps to determine the more attractive investment option – bonds or stocks. It is said that when GEYR is high equities are expensive and, barring a fall in bond yields, should fall in price to resume equilibrium, and vice versa.

Thanks to Alun for the question, keep me on my toes.