CoinMeta data: As the S&P 500 index enters the fourth quarter of 2026, earnings growth is expected to be around 30%, but yields on government bonds exceeding 5% pose a challenge to stock valuations. FactSet expects S&P 500 earnings to grow by 30% in 2026, with analysts also predicting a 27.4% increase in the third quarter and a 25.2% increase in the fourth quarter. Despite treasury bond yields rising to 5.34%, the highest level since 2002, the S&P 500 has still risen by about 12% this year.