Rendimenti trentennali al 2% ?

Se questo celebre strategist statunitense ha ragione conviene avere un po' di Treasury bonds trentennali in portafoglio...

Forbes: Let’s hit first long treasuries. The yield now on the 30-year bond is 3%?

Shilling: 3%.

Forbes: The ten-year, 1.6%, 1.8%? Pick a number. When we last talked it was 4.5% on the 30-year, which seemed low at the time and was almost 3% on the ten. How much more is there and how long can it last?

Shilling: I’m suggesting 2% on the long bond and 1% on the ten-year.

Forbes: Time frame?

Shilling: One of the great forecasters said, “You know, you either forecast what’s going to happen or when it’s going to happen, but not both.” I would say over the next year or so, and that’s assuming that this grand disconnect does get closed. If we go from 3% to 2% on the long bond that’s a total return, assuming it takes place over a year so you get a year’s worth of interest. That’s a total return of about 16% and it’s about 25% on a 30-year zero coupon bond. That’s pretty attractive, relative to what I think would happen in stocks, which would be on the negative side.

Il "great forecaster" citato da Shilling è Clive Granger.
Potete leggere il resto dell'intervista qui: Gary Shilling: Why You Should Sell Stocks And Buy Treasurys - Forbes