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Richard's Remarks

 

Day two of the Yellen-inspired rally, with support from possible debt ceiling talks in Washington. With the US economy out-of-breath and still staggering along, I think it will be a long while before we see any tapering by the Federal Reserve. This, I believe, is particularly true because dovish Janet Yellen is due to be the next Chairwoman of the Federal Reserve. At the slightest mention of tapering, the stock and bond markets go into shock. Yellen knows this, and for this reason I believe she will think three times before doing any tapering.

 

With interest rates low, there aren't many places where even the professionals can obtain safe income. The area of choice right now is the dividend-paying blue chip stocks. This is one reason why there has been such concentrated interest in the D-J Industrial Average -- even with its pitiful dividend yield. Personally, I view the Dow as over-valued ... Log in or subscribe to continue reading.


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