2013 va fi anul actiunilor … in defavoarea bond-urilor!

Posted: November 19, 2013 in Burse, Diverse
Tags: , , , , ,

Barring an unexpected shake-up in the next six weeks, 2013 will undoubtedly be remembered as the year of the stock market.

2013 May Become The Best Year Ever For Stocks Relative To Bonds

stocks-vs-bonds

“We would be unsurprised to see portfolio managers choose to take money off the table earlier than normal this year end,” writes BofA Merrill Lynch strategist John Bilton in a note to clients. “3Q13 earnings season may have left many investors with a rather ‘hollow’ feeling; but it’s hard to deny that 19% total returns in stocks, when bonds are on course for their worst year since 1987, makes for a tidy performance from stocks this year (chart 5); and if SPX closes 2013 at 1750 and US 10y yields at 3%, stocks will have beaten bonds by 37% in total return terms – the highest differential in 40 years.”

The S&P 500 closed Friday at 1798, an all-time high for the index. The yield on the 10-year U.S. Treasury note, meanwhile, closed at 2.71%.

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