Fed model - Non-US equities

CFA Level III
#1

The denominator of Fed model is 10-year Treasury. If we want to apply Fed model to Non-US treausy, any adjustment need to make? Thanks.

#2

You’d just use the forward earnings yield of the non-US market over the yield of a 10-year non-US government bond.

#3

Thanks! Seems I was subject to anchoring and adjustment bias:)

#4

Sounds decent.