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Sep 17 2020

Low Yields Provide Rarified Air For Stocks!

  • Sep 17, 2020

Bond yields and earnings are both currently low.

During the post-war era, the stock market has done best when yields have been the lowest (despite the fact that low yields are often associated with poor earnings results). This is illustrated in Chart 1, which shows the S&P 500 average annualized total return and the frequency of negative monthly returns by U.S. bond yield quartiles (1950-to-date).

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James Paulsen

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James Paulsen / Chief Investment Strategist

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