Is the Quest for Yield Distorting US Equity Markets?

« Low global bond yields are pressuring US Treasury yields, while inflation outlooks are muted and the Fed appears on hold with rate hikes. All of these points favor high dividend yields »… Makes sense although this is massively pushing investors into the most expensive territories of equity markets !

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« The potentiel for yield mania in 2015 looks big » – BofAML

Yield search isn’t a new theme. It’s actually been around for a couple of years. But with a growing number of bond yielding zero or less, due to the « globalization » of ZIRP, the chase for yield is intensifying.

Here’s the stock of bond yielding below 0, that is that investors have to pay for to own… Japan is a clear leader, but we now see Germany, France, the Netherlands joining the club. While Japan is above 2tn€, the Eurozone is close to 1.4tn€…

Source: Bank of America Merrill Lynch

Source: Bank of America Merrill Lynch

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Quelques idées d’investissement pour démarrer l’année – Barclays

Pour les stratégistes de Barclays, 3 thèmes d’investissement offriront de belles perspectives de rendement en 2013: les marchés actions italien et espagnol, les actions offrant des rendements en croissance et les titres value. Lire la suite