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BRIEF-Blackrock's Turnill says "bond yields have likely bottomed out"
November 7, 2016 / 5:31 PM / 10 months ago

BRIEF-Blackrock's Turnill says "bond yields have likely bottomed out"

Nov 7 (Reuters) - Blackrock’s Richard Turnill :

* “Dividend income is poised to become a larger component of lower overall portfolio returns over the next five years”

* Bond yields have likely bottomed out; “we don’t see scope for big rises in already elevated stock market valuations amid tepid earnings growth”

* “Dividends are a big part of the case for equities overall”

* “We see higher inflation expectations, rather than rising real yields, driving rises in nominal bond yields”; this bodes well for dividend growers

* Due to compounding dividends earnings growth, valuations of global developed stocks would need to fall by 30% over next 5 yrs to generate negative returns

* “For now, we see dividend growth opportunities globally within the technology, consumer discretionary and financials sectors”

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