Debby Kuenstner of Putnam Investments hopes that growing demands from investors for a decent dividend yield on stocks will be answered by US corporations in the years ahead.

Kuenstner is chief investment officer for Putnam's value style of investment. She says that the yield of 3% on her portfolio is attractive compared with central bank rates of 1%. "But I'm not convinced it, and an earnings multiple of 17, will be enough to restore confidence in the current environment," she says.