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September 01, 2020 1:39pm
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This 14.4% Dividend Is a New Year’s “Gift” for Contrarians

2024 is hours from heading out the door, and here’s the state of play: The Federal Reserve cut interest rates for a third consecutive meeting on December 18. Yet the yield on the 10-year Treasury is now higher than when the easing cycle began. Wait. What? The bond market has been screaming at Jay Powell that the job on inflation is not done. It makes sense: The economy is fine. There are plenty of jobs. The market is not hurting for liquidity. Finally, Jay is catching on. And here’s the twist: The hawkish guidance he gave on rates at that December 18 meeting—including the Fed’s expectation of two rate cuts next year instead of four—could actually set the stage for a top in the 10-year Treasury yield.… Read more
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