Has the "worship of stocks turned into the worship of bonds," asks Sober Look, noting - as have others - massive inflows into bond funds at the expense of stocks. Worth a look is the disappearing spread between the average yield on 5-year corporates vs. the S&P dividend yield - one can now get nearly the same yield holding the broad stock market as holding corporate paper.
Has the "worship of stocks turned into the worship of bonds," asks Sober Look, noting - as have...
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