Published Thu, 06 Apr 2017 06:20:36 -0400 on Seeking Alpha
The bond market is worried. Three weeks ago, right when the Federal Reserve was raising interest rates, the 10-year government bond was trading at 2.60%. Now, in a signal that Trumponomics may not be panning out, the 10-year is back down to 2.30% and the stock market appears to be stuck in the mud for now. This is likely a warning of what is to come: stocks will decline and bond will yields drop.
I have said this multiple times that the Republican Party's failure to pass their number one key signature campaign promise spells doom in a lot of ways. For years, the Republicans in congress have sent far too many bills to repeal Obamacare to be immediately vetoed by President Obama. But, when it came down to it, with both houses of congress in Republican control and a new president hell bent on repealing the legislation, the bill never even made it out of committee.
From that, it is easy to rationalize that there is no cohesiveness in the Republican Party. Trumponomics are not likely able to deliver the much needed stimulus in the form of tax reform, infrastructure spending and deregulation necessary to get the United States economy out of the doldrums that it has been stuck in for the past few years.
This, from a trader at BMO, via CNBC:
"Generally speaking, the rally we've seen over the course of the last three weeks, or effectively, since the March FOMC meeting, has been a function of people rethinking Trumponomics and the potential for the... Read more
|Stock name||Last trade||P/E||Earnings/Share||Dividend/Share||Dividend yield|
|MFS HIGH INCOME MUNICIPAL TRUST||5.22||0.0||0.00||0.29||5.05|
|PIONEER MUNICIPAL HIGH INCOME TRUST||12.28||0.0||0.00||0.00||4.59|
|WESTERN ASSET MUNICIPAL HIGH INCOME FUND||7.65||0.0||0.00||0.00||3.99|
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