Green Book August 1992
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Featured Articles
Beware Conventional Wisdom Regarding the Conventions
The perception nearing November could well shift to a view that the differences in the two parties approach to the world will have an impact on interest rates.
Bond Market Summary
Overall, July was one heck of a month for the fixed income markets. Most of the move in short term paper came early in the month but longer term fixed income securities continued their steady rise until the last three days of July.
Generational Inequity…Continued
The July 20th issue of Pensions & Investments included an editorial prompted by my comments regarding generational inequities (July Perception for the Professional). P&I editor Mike Clowes writes that he has decided not to join AARP. I was not even aware that my friend Mike was old enough to join.
Interest Rates: Historical Perspective
Today, T-bills are yielding 3.20% and high quality commercial paper is yielding 3.40%. It may be useful to examine these rates in a historical perspective. Some may think these are just about the lowest short term rates in U.S. history. Well, not quite.
Joke of the Month
A joke lifted from a computer trade magazine, is the Joke of the Month. A one day late entry from Steve Kessler in Seattle looks like a cinch for next month’s ribbon. But it will have to wait until the September issue.
Major Trend Index Remains “Negative”
Our Major Trend Index inched up in late July, but remained decidedly in negative territory. Following the dictates of our disciplined weight of the evidence approach, we remain very cautious toward the U.S. equity market.
Scanning the Markets
A performance rundown for Leuthold equity market sectors (and other measures) ranked by July performance.
View from the North Country
Politics and the Stock Market...Fiscal Reform the Hard Way...What's Up With Gold (Not Much except a Weak Dollar)...Eskom (South Africa's Electric Utility) Bonds: A 20% Yield with Some Risk As Well
Table of Contents
Stock Market
- Major Trend Index Remains “Negative”
- Beware Conventional Wisdom Regarding the Conventions
- And Then There Was Europe
- View from the North Country
- Generational Inequity…Continued
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Beware Conventional Wisdom Regarding the Conventions
The perception nearing November could well shift to a view that the differences in the two parties approach to the world will have an impact on interest rates.
Bond Market Summary
Overall, July was one heck of a month for the fixed income markets. Most of the move in short term paper came early in the month but longer term fixed income securities continued their steady rise until the last three days of July.
Generational Inequity…Continued
The July 20th issue of Pensions & Investments included an editorial prompted by my comments regarding generational inequities (July Perception for the Professional). P&I editor Mike Clowes writes that he has decided not to join AARP. I was not even aware that my friend Mike was old enough to join.
Interest Rates: Historical Perspective
Today, T-bills are yielding 3.20% and high quality commercial paper is yielding 3.40%. It may be useful to examine these rates in a historical perspective. Some may think these are just about the lowest short term rates in U.S. history. Well, not quite.
Joke of the Month
A joke lifted from a computer trade magazine, is the Joke of the Month. A one day late entry from Steve Kessler in Seattle looks like a cinch for next month’s ribbon. But it will have to wait until the September issue.
Major Trend Index Remains “Negative”
Our Major Trend Index inched up in late July, but remained decidedly in negative territory. Following the dictates of our disciplined weight of the evidence approach, we remain very cautious toward the U.S. equity market.
Scanning the Markets
A performance rundown for Leuthold equity market sectors (and other measures) ranked by July performance.
View from the North Country
Politics and the Stock Market...Fiscal Reform the Hard Way...What's Up With Gold (Not Much except a Weak Dollar)...Eskom (South Africa's Electric Utility) Bonds: A 20% Yield with Some Risk As Well
Stock Market
- Major Trend Index Remains “Negative”
- Beware Conventional Wisdom Regarding the Conventions
- And Then There Was Europe
- View from the North Country
- Generational Inequity…Continued