Tag Archives: Van Kampen Municipal Trust
It’s hard to fault a stock market that can push the Dow back up to a 3 1/2 year high. Anybody who suffered through the disastrous bear market of 2000-2002 is glad to see the recovery in full swing. In fact, most of us are hoping it carries well into 2005.
Stocks have put on a tub-thumper of a rally over the past six weeks. So much so, in fact, that it’s getting hard to find real values. That’s a strong hint we’re due for a break in the action before the market can try for another leg up in January.
We probably haven’t seen the high in yields just yet. But values are improving in the bond market. Since late October, the yield on the benchmark 10-year Treasury note has bounced from under 4% to 4.34% this morning. That’s a smart 70 basis points above the low reached back in March.