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
The recent blockbuster jobs report has also created a narrative that perhaps the Fed can achieve the ever- elusive ‘soft landing.’ However, as I write this blog post, the consensus is still projecting negative GDP to show up in the second and third quarters of this year.
Market price gyrations may be part of the landscape in the weeks ahead
Big banks allowing hedge funds to try to front-run analyst recommendation changes is akin to other practices the SEC has cracked down on just this year.
PetSmart’s buyout could mark a revival of private equity deals.
