We will continue to monitor for any sharp decline in short-term interest rates in the future.

J_M_RIN OP : There was a statement that the neutral interest rate may be rising, so it is advisable to keep in mind that the bond market I previously mentioned may not be rewarded for a long time, indicating that the economy is that strong.  I think many people are investing in TMF and other investments, but I predict that the yields on 10-year and 20-year bonds will stay around 3% in the future, so I believe there is potential in stocks from a risk-reward perspective, as long as the possibility of a hard landing remains low.

codeOZ(家長) : I think that because the huge amount of money in the bond market supports companies and the economy, and returns to the stock market, it will move in a way that rewards the rich who buy bonds. Without buying bonds, the stock market would be stingy.

J_M_RIN OP codeOZ(家長) : It is certain that bonds are being bought, but the pace and limit are the focus. This comment should be observed as a signal that short-term government bond yields are factoring in a market downturn, and the possibility that the neutral interest rate is rising should be considered. Considering the possibility of a lower limit on capital gains from bonds, it is advisable to consider TLT or EDV, which prioritize yield, as safe assets compared to holding bonds from TMF.

codeOZ(家長) J_M_RIN OP : 全体を通して株式が良いのは確かなんですが、債権が報われない場合、それを資金源とする株式も駄目なので、あえて債権報われないと言うのは足の引っ張り合いだと思う。だから、寧ろ債権は買い場だーって言う。

J_M_RIN OP codeOZ(家長) : The reason why we, individual investors with limited financial resources, find it too difficult to aim for higher returns than stocks is because it is based on the mindset of focusing on short-term capital gains instead of stable returns. Wealthy individuals continue to hold assets and see them grow due to stable yields.If the yield is good, the wealthy put their funds in bonds, and if the funds obtained from the yield have good prospects for stocks, they will also be invested there.