{"id":189671,"date":"2021-02-26T18:07:00","date_gmt":"2021-02-26T15:07:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/so-long-there-is-no-alternative-trade-what-should-investors-do-now\/"},"modified":"2021-02-26T18:07:00","modified_gmt":"2021-02-26T15:07:00","slug":"so-long-there-is-no-alternative-trade-what-should-investors-do-now","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/so-long-there-is-no-alternative-trade-what-should-investors-do-now\/","title":{"rendered":"#\n  So long, there-is-no-alternative trade. What should investors do now?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41ca82802a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41ca82802a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/so-long-there-is-no-alternative-trade-what-should-investors-do-now\/#Critical_information_for_the_trading_day\" >Critical information for the trading day<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/so-long-there-is-no-alternative-trade-what-should-investors-do-now\/#Steve_Goldstein\" >Steve Goldstein<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  So long, there-is-no-alternative trade. What should investors do now?<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Critical_information_for_the_trading_day\"><\/span>\n  Critical information for the trading day<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000180550\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       The TINA mantra \u2014 there is no alternative \u2014 isn\u2019t correct anymore.<\/p>\n<p> The swift and violent rise in bond yields has meant that equities are no longer the obvious choice to make on a relative valuation basis. The chart here shows that the dividend yield on the S&amp;P 500 is now below that of the 10-year Treasury yield, the benchmark security for all valuation.<\/p>\n<div class=\"paywall\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:53.75%;\" data-mobile-ratio=\"53.75%\" data-layout-ratio=\"53.75%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-304735?width=140&amp;size=1.8604651162790697 140w,\nhttps:\/\/images.mktw.net\/im-304735?width=540&amp;size=1.8604651162790697 540w,\nhttps:\/\/images.mktw.net\/im-304735?width=620&amp;size=1.8604651162790697 620w,\nhttps:\/\/images.mktw.net\/im-304735?width=700&amp;size=1.8604651162790697 700w,\nhttps:\/\/images.mktw.net\/im-304735?width=860&amp;size=1.8604651162790697 860w,\nhttps:\/\/images.mktw.net\/im-304735?width=1260&amp;size=1.8604651162790697 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-304735?width=620&amp;size=1.8604651162790697\" data-enlarge=\"https:\/\/images.mktw.net\/im-304735?width=1260&amp;size=1.8604651162790697\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       Arguably, interest rates could be much higher. Hedge fund giant Man Group performed a regression analysis to try to discern where the stock and commodities markets were signaling where the 10-year should be.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:54.6875%;\" data-mobile-ratio=\"54.6875%\" data-layout-ratio=\"54.6875%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-304736?width=140&amp;size=1.8285714285714285 140w,\nhttps:\/\/images.mktw.net\/im-304736?width=540&amp;size=1.8285714285714285 540w,\nhttps:\/\/images.mktw.net\/im-304736?width=620&amp;size=1.8285714285714285 620w,\nhttps:\/\/images.mktw.net\/im-304736?width=700&amp;size=1.8285714285714285 700w,\nhttps:\/\/images.mktw.net\/im-304736?width=860&amp;size=1.8285714285714285 860w,\nhttps:\/\/images.mktw.net\/im-304736?width=1260&amp;size=1.8285714285714285 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-304736?width=620&amp;size=1.8285714285714285\" data-enlarge=\"https:\/\/images.mktw.net\/im-304736?width=1260&amp;size=1.8285714285714285\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       As dovish as Federal Reserve officials including Chair Jerome Powell and Vice Chair Richard Clarida were this week, none of them made the case for increasing the rate of purchases of bonds. The rollout of COVID-19 vaccines and the prospect of further U.S. stimulus have markets convinced the economy is about to heat up. \u201cDespite the Fed\u2019s massive ongoing Treasury purchases, it is highly likely we have entered a bond bear market,\u201d said Mike O\u2019Rourke, chief market strategist at JonesTrading. \u201cTreasuries are getting cheaper every day, expect stocks to follow bonds.\u201d<\/p>\n<p>Data from Bank of America show the current bond market selloff rivals other notable fixed-income declines.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:80.390625%;\" data-mobile-ratio=\"80.390625%\" data-layout-ratio=\"80.390625%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-304737?width=140&amp;size=1.2439261418853256 140w,\nhttps:\/\/images.mktw.net\/im-304737?width=540&amp;size=1.2439261418853256 540w,\nhttps:\/\/images.mktw.net\/im-304737?width=620&amp;size=1.2439261418853256 620w,\nhttps:\/\/images.mktw.net\/im-304737?width=700&amp;size=1.2439261418853256 700w,\nhttps:\/\/images.mktw.net\/im-304737?width=860&amp;size=1.2439261418853256 860w,\nhttps:\/\/images.mktw.net\/im-304737?width=1260&amp;size=1.2439261418853256 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-304737?width=620&amp;size=1.2439261418853256\" data-enlarge=\"https:\/\/images.mktw.net\/im-304737?width=1260&amp;size=1.2439261418853256\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       Guild Investment Management, a Los Angeles investment adviser, forecasts the 10-year yield will reach 1.75% with a few months, and it notes inflation already is visible in food and industrial inputs. That said, the firm doesn\u2019t recommend a defensive posture.<\/p>\n<p>\u201cWith high fiscal and monetary stimulus and a recovering global economy, investors should look for growth <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">theme<\/a>s and inflation beneficiaries,\u201d the firm says in a presentation. \u201cSmall vs large, cyclical vs defensive, emerging markets, commodities, rationally valued innovation.\u201d Good luck, perhaps, finding that last one.<\/p>\n<p><strong>The chart<\/strong><\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        renoImageFormat-\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:80.78125%;\" data-mobile-ratio=\"80.78125%\" data-layout-ratio=\"80.78125%\" data-subtype=\"\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-304741?width=140&amp;size=1.2379110251450678 140w,\nhttps:\/\/images.mktw.net\/im-304741?width=540&amp;size=1.2379110251450678 540w,\nhttps:\/\/images.mktw.net\/im-304741?width=620&amp;size=1.2379110251450678 620w,\nhttps:\/\/images.mktw.net\/im-304741?width=700&amp;size=1.2379110251450678 700w,\nhttps:\/\/images.mktw.net\/im-304741?width=860&amp;size=1.2379110251450678 860w,\nhttps:\/\/images.mktw.net\/im-304741?width=1260&amp;size=1.2379110251450678 1260w\" sizes=\"(max-width: 140px) 100px,\n(max-width: 540px) 500px,\n(max-width: 620px) 580px,\n(max-width: 700px) 660px,\n(max-width: 860px) 820px,\n1260px\" src=\"https:\/\/images.mktw.net\/im-304741?width=620&amp;size=1.2379110251450678\" data-enlarge=\"https:\/\/images.mktw.net\/im-304741?width=1260&amp;size=1.2379110251450678\" alt=\"\" title=\"\"><\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\"><\/figcaption><\/figure>\n<\/div>\n<p>       There is nothing investors like more than chasing higher prices, as the latest fund flow data show. Investors poured $46.2 billion into global stock funds \u2014 the third-highest ever \u2014 and a net $7.1 billion into bond funds in the week ending Wednesday.<\/p>\n<p><strong>Random reads<\/strong><\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>Soccer star Zlatan Ibrahimovi\u0107<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/eu.usatoday.com\/story\/sports\/soccer\/europe\/2021\/02\/25\/zlatan-ibrahimovic-criticizes-lebron-james-discussing-politics\/6830713002\/\" class=\"icon none\"> criticized basketball star LeBron James for social activism.<\/a><\/p>\n<p>Queen Elizabeth II said<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bbc.co.uk\/news\/uk-56203768\" class=\"icon none\"> reluctant vaccine takers \u201cshould think about other people rather than themselves,\u201d <\/a>as she said receiving one was \u201cvery quick.\u201d <\/p>\n<p><strong>Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern. <\/strong><\/p>\n<p><strong>Want more for the day ahead? Sign up for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.barrons.com\/newsletters?sub=462\" class=\"icon none\">The Barron\u2019s Daily<\/a>, a morning briefing for investors, including exclusive commentary from Barron\u2019s and MarketWatch writers.<\/strong><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Steve Goldstein\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Steve_Goldstein\"><\/span>Steve Goldstein<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B21005575-02D4-D4B5-4572-D2C1460004AC%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# So long, there-is-no-alternative trade. What should investors do now? &#8221; Critical information for the trading day The TINA mantra \u2014 there is no alternative \u2014 isn\u2019t correct anymore. The swift and violent rise in bond yields has meant that equities are no longer the obvious choice to make on a relative valuation basis. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":189672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-189671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/189671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=189671"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/189671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/189672"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=189671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=189671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=189671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}