Opinion: Dour economic forecast is leading to bond bubble

08/18/2010 | Wall Street Journal, The

A bond bubble is forming, caused by investors disenchanted with the stock market, Jeremy Siegel and Jeremy Schwartz write in this opinion piece. Investors rushing into the bond markets have caused the yield on 10-year Treasury Inflation-Protected Securities to drop below 1%, with shorter-term Treasury bonds delivering even lower yields than that. It might be, they conclude, that investors seeking inflation protection and income will be better off with stocks that pay high dividends.

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