Monday, January 28, 2013
SPY vs. TLT
2013 is beginning the year with a strong dichotomy in asset class returns. While the S&P 500 is on pace to have its best January since 1997, the 10 year yield has moved higher by 20 bps. Expressed in more intuitive terms, SPY is up 5.3% year to date, while TLT is down 3%. The divergence between the two could represent some psychological pain for any investors substantially invested in bonds.
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