Short Supply, High Demand for Yield

The 10-year U.S. Treasury yield reflects the rate at each month-end, as calculated by the Federal Reserve. The Standard & Poor’s 500 Composite Index (S&P 500) dividend yield is the trailing 12-month dividend yield, as calculated by Lipper. The S&P 500 Index is a market capitalization-weighted index based on the average weighted results of 500 widely held common stocks. The source for population 55 years and over is the United States Census Bureau. The decennial census data (for 1990, 2000 and 2010) are enumerated population, as of April 1; the census data for other years are estimated population, as of July 1. Census data for 2012 are not yet available.

Source: American Funds

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