The 10-year Treasury touched a high not seen since Nov. 10. Here are other ways to find income.
Investors searching for income were buoyed by the move higher in the 10-year Treasury yield, but there are also some other opportunities to bring in some cash. On Tuesday, the yield on the benchmark 10-year Treasury touched a high of 3.983%, its highest level since Nov. 10, amid expectations that the Federal Reserve will keep interest rates higher for longer. The yield was last lower by 1 basis point at 3.912%. Yields move inversely to prices. Meanwhile, the stock market is struggling.
That means working with an institutional money manager who can do the credit research, something he thinks shouldn't be done by individuals, he said. "They can blend A with AA and AAA and you can get better yields," Weinberg explained. In fact, a good signal to buy munis is when their yields are at least 85% of corresponding Treasury yields, he said. That's because with a Treasury, you are paying tax on your interest earnings.
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