Sage Advice Quarterly Market Review 4Q1997

The latest batch of economic indicators has resurrected that illusion, spurring interest-rate bulls to rampage towards the cyclical lows in market yields. Indeed, it looked for a while that the September employment report would spur the herd rapidly towards that 5.78 percent marker last reached in 1993 on the day it was released. But the party was interrupted by rising tensions in the Mid-East and, after plunging to about 6.16 percent, the long bond rebounded to 6.27 percent by the day’s end, where it still hovers.

  • DATE: December 31, 1997

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