Green Book May 1993
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Featured Articles
Bond Market Summary
The early April surge in the bond market stalled out at the late February highs, beating a hasty retreat in the last week of the month.
Debt Monetization: Is The Printing Press Working Overtime?
Debt monetization evaluated by three separate measures. All three measures suggest monetization is increasing, however the severity of this trend is debatable. Judge for yourself.
Joke of the Month
We were awash in Branch Davidian and David Koresh black humor during April. But, not only are these “jokes” of questionable taste, they are also well traveled. Jokes unrelated to Waco were rare in April. In fact, this is the only one.
Long Term Message Remains: Caution
As of the May 3 tabulation of the Major Trend Index, the caution flag remains flying.
Scanning the Markets
A performance rundown for Leuthold equity market sectors (and other measures) ranked by 1993 performance to date.
Sector Musings
Notes on Regional Banks, Health Care and the “Branded Stocks”.
The Supply/Demand Standoff
The public continues to roll the money into mutual funds and Wall Street continues to roll out the new equity offerings. The Supply/Demand standoff more or less continued in April.
The U.S. Stock Market: The Next Ten Years (Continued)
Does historical data suggest that a big performance decade is followed by a poor relative performance decade? Or, does a big performance decade beget an extended period of above average performance?
View from the North Country
Client Questions...What Do You Think About Gold?...How Municipal Bonds Compare With Taxables...Don't Short The Gambling Stocks Yet
Table of Contents
Stock Market
Of Special Interest
Macro Monitor
Equity Strategies
At Random
Bond Market Summary
The early April surge in the bond market stalled out at the late February highs, beating a hasty retreat in the last week of the month.
Debt Monetization: Is The Printing Press Working Overtime?
Debt monetization evaluated by three separate measures. All three measures suggest monetization is increasing, however the severity of this trend is debatable. Judge for yourself.
Joke of the Month
We were awash in Branch Davidian and David Koresh black humor during April. But, not only are these “jokes” of questionable taste, they are also well traveled. Jokes unrelated to Waco were rare in April. In fact, this is the only one.
Long Term Message Remains: Caution
As of the May 3 tabulation of the Major Trend Index, the caution flag remains flying.
Scanning the Markets
A performance rundown for Leuthold equity market sectors (and other measures) ranked by 1993 performance to date.
Sector Musings
Notes on Regional Banks, Health Care and the “Branded Stocks”.
The Supply/Demand Standoff
The public continues to roll the money into mutual funds and Wall Street continues to roll out the new equity offerings. The Supply/Demand standoff more or less continued in April.
The U.S. Stock Market: The Next Ten Years (Continued)
Does historical data suggest that a big performance decade is followed by a poor relative performance decade? Or, does a big performance decade beget an extended period of above average performance?
View from the North Country
Client Questions...What Do You Think About Gold?...How Municipal Bonds Compare With Taxables...Don't Short The Gambling Stocks Yet