Yes.From SKBA's perspective, this observation nevertheless begs these further questions:
Opinionsection of the Wall Street Journal on August 22, 2011, authors Jeremy Siegel and Jeremy Schwartz wrote a piece entitled,
The Bond Bubble and the Case for Stocks.While I have no argument with the idea that dividend-paying stocks are attractive at today's valuations compared to nominal Treasury bonds, I believe the discussion that the TIPS (Treasury Inflation Protection Securities) market
makes no sense to us...reaches incorrect conclusions. The reason TIPS are trading where they are is not reflective of the general Treasury bond bubble.