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Overvalued. Stocks will come back to crush bonds over the long term.
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Seriously this bond is meant to be a fixed income at $75. Interest rates cannot stay this low forever because eventually people will realize that inflation has hit. Better to buy bond IPO's than to buy the ETF's. Then you're sure to not buy something over priced. I'll cover it at 74 and see if it drops faster than it pays.
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We'll see how lousy I am at timing the market . . . but this is my attempt at saying the worst may be over and Long-term interest rates should begin to head higher.
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U.S. stock bull 3/17/2008.
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