At one time analysts liked to do this by quoting the yieldgap (though this became inverted when dividend yields fell below bond yields in the 1950s) or the yield ratio, both of which relate share to bond yields.
For Spanish and Italian banks, the gap in yield between senior and subordinated bonds is far lower than it is it is in other other countries such as Germany, Mr. Fraser said.
The yield curve is flattening in America (the gap between the short-term federal funds rate and yields on ten-year Treasuries is only a smidgeon more than one percentage point) and in Britain it is inverted (long bonds yield less than shorter ones).
Bridging the gap between creativity and hard-headed business strategy is a process that, when perfected, can yield results that both inspire emotions and bloat bank accounts.