https://www.heraldtribune.com/news/20190107/evan-guido-hello-there-my-old-friend-tax-free-yield-is-here-againStocks may be in a tizzy because the Federal Reserve has been ratcheting up interest rates, but the positive side of higher borrowing costs is higher yields on interest-paying investments. After years of low bond yields and high stock markets, the intermediate trend might be shifting toward higher yields and lower stock returns. Since hitting a low of 2.11 percent in July 2016, the 30-year Treasury has finally started to pay something above a 3 percent long-term inflation expectation.
