MARKETS SPECTATOR: The local yield story is over

Tim Toohey says yield hungry investors will search outside Australia for markets that offer better returns.

The yield party is over, according to Goldman Sachs’ Tim Toohey. “Australia no longer has a suite of stocks on attractive dividend yields in a global context,” he says. In June 2011 Australia had 30 stocks with a yield greater than six per cent and a beta less than one. Now the market has just one such stock, according to Goldman Sachs.

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