This is an outstanding article about how yield seekers are holding up the stock market. Since the 5-year treasury yield is less than the advance of inflation, and bank yields are no better, investors are flocking to higher yields in the stock market even when the market is overbought. We could gradually creep up for years because we have no better investment alternatives.
The author talks about the Dow, S&P 500, and low cost Vanguard ETFs like VTI, Total Stock Market, and VOO, the S&P500. VOO has gained almost 20% year-to-date. I have shown a Yahoo chart of VOO below. Double-click on the chart to expand it.
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