TINA (there is no alternative) is dead.
For years, investors were told there was no alternative to stocks. And that saying had a lot of truth to it back in 2020 when long-term bond yield were below 1% and real yields were negative.
But what a difference 6 years makes. Today we have the highest nominal yields since 2002 (5.31%) and the highest real yields since 2008.
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