Investment Management
Macro Value Monitor
The Standard 60/40 Portfolio Yield
The yield of a standard 60/40 portfolio of U.S. stocks and bonds is shown below. The U.S. 60/40 Portfolio Yield is composed of the average yield from Treasury bonds along with the underlying, sustainable earnings yield of the S&P Composite.
After reaching a record low of 2.14% in 2021, the underlying yield of a standard portfolio of U.S. stocks and bonds rose to 3.70% at the end of 2022. A yield of 3.70% is among the lowest portfolio yields in history prior to the past decade.
“What the chart below signifies, above all else, is the rebirth of active, value-anchored management. It has been a long time coming, and it appears to be just the beginning.”
– Brian McAuley, December 2022 on LinkedIn
To learn more about the Standard 60/40 Portfolio Yield, click on the links below:
October 2022 Memo: The 20 Percent Most Investors Are Missing in Their Portfolio
June 2021 Memo: On Resiliency, and a Solution to the 60/40 Dilemma
The Standard 60/40 Portfolio Yield
The yield of a standard 60/40 portfolio of U.S. stocks and bonds is shown below. The U.S. 60/40 Portfolio Yield is composed of the average yield from Treasury bonds along with the underlying, sustainable earnings yield of the S&P Composite.
After reaching a record low of 2.14% in 2021, the underlying yield of a standard portfolio of U.S. stocks and bonds rose to 3.70% at the end of 2022. A yield of 3.70% is among the lowest portfolio yields in history prior to the past decade.
“What the chart below signifies, above all else, is the rebirth of active, value-anchored management. It has been a long time coming, and it appears to be just the beginning.”
– Brian McAuley, December 2022 on LinkedIn
To learn more about the Standard 60/40 Portfolio Yield, click on the links below:
October 2022 Memo: The 20 Percent Most Investors Are Missing in Their Portfolio
June 2021 Memo: On Resiliency, and a Solution to the 60/40 Dilemma
Investment Management
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Macro Value Monitor
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