The amount of this risk premium, of course, depends on the degree of risk as perceived by investors. In the money markets, for example, so-called "junk bonds," associated with a relatively high perceived risk, can be successfully sold only at a much higher interest rate than other bonds. In the capital markets, stocks perceived as exceptionally risky will be priced such that the P/E (price-to-earnings) ratio is much lower, even though it may be unclear whether they have more of an "upside" or "downside" potential. Furthermore, stocks are typically associated with a higher degree of risk than bonds: they may earn far more or far less. Compensating for this added risk, average rates of return are significantly higher in the stock market than in bond markets.