With the 10-Year US Treasury now yielding 1.74%, it is now paying a coupon that is less than the dividend yield of more than half of the stocks in the S&P 500. As of Monday’s close, there are now 271 stocks in the S&P 500 that have a greater yield than the 10-Year US Treasury. Of the remaining 229 stocks in the index, 126 have a dividend yield that is less than the 10-Year US Treasury, while 103 pay no dividend at all.
Data: Bespoke
Tesla books a cool $101 million profit on the sale of Bitcoins
The debt ceiling saga is unfortunately still ongoing, but definitive progress has been made. According to reports, the Biden Administration and Congressional Republican negotiators have agreed to a debt ceiling/budget deal.
David Callaway at MarketWatch has it right: Market catastrophes rarely happen when everyone is looking.
It wasn’t what the market wanted to hear. But Ben Bernanke’s Jackson Hole speech gave a hint to what might trigger QE3: More bad news on the jobs front.
