Remove 2025 Remove Enterprise Value Remove Firm Value
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Data Update 5 for 2025: It's a small world, after all!

Musings on Markets

That is an easily fixable problem, though, since if you decide to use S&P's AA+ rating for the US, all it would require is that you net out the default spread of 0.40% (for a AA+ rating at the start of 2025) from the US ERP to get a mature market premium of 3.93% (4.33% minus 0.40%).