The Stock-Dominating “TINA” Era Is Officially Over

Theodora Lee Joseph

2 months ago1:15 min

The Stock-Dominating “TINA” Era Is Officially Over

For a long time after the global financial crisis, stocks were the only game in town if you were looking for decent returns. The situation even gave rise to a new term: TINA, short for “There Is No Alternative”. See, for about a decade after the crisis, interest rates were near zero and bond yields were paltry, especially compared to stocks. Investors who wanted returns had “no alternative” but to invest in riskier assets like stocks.

But, hold up, there are serious contenders now. With US 10-year Treasury yields now at close to 4% (back to their pre-2008 levels), these risk-free assets are looking more attractive than riskier, high-dividend-paying stocks. What’s more, it’s tough to find shares with dividends high enough to rival these yields: only 16% of S&P 500 stocks have an annual pay

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