Summit-by-summit measures to contain Europe's financial crisis are not providing the markets with the same confidence that the Troubled Asset Relief Program did for the United States. As long as the European overhang exists, market participants are unlikely to take on enormous risks.
Personally, I am not intrigued by piling into risk-off, low-yielding U.S. treasuries. I've been more inclined to run with higher-yielding assets that also have potential for client capital gains. I still like investments with historically wide yield spreads with comparable treasuries, including but not limited to, Vanguard Long-Term Corporate Bond (VCLT), iShares High Yield Bond (HYG), iShares FTSE NAREIT Mortgage REIT (REM), Vanguard High Dividend Yield (VYM) as well as PowerShares Emerging Market Sovereign Debt (PCY).
You can listen to the ETF Expert Radio Show "LIVE", via podcast or on your iPod. You can follow me on Twitter @ETFexpert.Disclosure Statement: ETF Expert is a website that makes the world of ETFs easier to understand. Gary Gordon, Pacific Park Financial and/or its clients may hold positions in ETFs, mutual funds and investment assets mentioned. The commentary does not constitute individualized investment advice. The opinions offered are not personalized recommendations to buy, sell or hold securities. At times, issuers of exchange-traded products compensate Pacific Park Financial or its subsidiaries for advertising at the ETF Expert website. ETF Expert content is created independently of any advertising relationships. You may review additional ETF Expert at the site.
Gary Gordon reads: Real Clear Markets
On Twitter, Gary Gordon follows: Jonathan Hoenig
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