COMMENTARY
      Who's afraid of a falling dollar? Certainly not the U.S. stock or bond markets. 
      Both made big strides in the past week by focusing on domestic concerns. 
      Encouraged by signs of a slowing economy, the long-term Treasury bond rallied. 
      The fall in rates spurred the equity market to action. The Dow jumped 52 
      points, to a record 4035.6, on Mar. 10, and finished the week a tad higher for 
      a 1.5% gain. South of the border, the beleaguered Mexican market bounced back 
      with a 7.2% gain for the week.
      
      MARKET ANALYSIS
      
                                                              % change
      U.S. STOCKS                             Latest      Week        52-week
      DOW JONES INDUSTRIALS                   4038.4      1.5         4.9
      MIDSIZE COMPANIES (S&P MidCap Index)    180.6       1.6         -1.3
      SMALL COMPANIES (Russell 2000)          257.4       1.0         -4.4
      ALL COMPANIES (Russell 3000)            280.8       1.7         3.0
      
                                                    % change (local currency)
      FOREIGN STOCKS                          Latest      Week        52-week
      LONDON (FINANCIAL TIMES 100)            3047.0      1.8         -6.0
      TOKYO (NIKKEI INDEX)                    16,666.8    0.3         -19.4
      TORONTO (TSE COMPOSITE)                 4218.8      2.0         -6.8
      
      FUNDAMENTALS                            Latest      Week ago    Year ago
      90-DAY TREASURY BILL YIELD              5.89%       5.92%       3.60%
      30-YEAR TREASURY BOND YIELD             7.36%       7.54%       6.81%
      S&P 500 DIVIDEND YIELD                  2.68%       2.74%       2.74%
      S&P 500 PRICE/EARNINGS RATIO            16.3        16.1        21.3
      
      TECHNICAL INDICATORS                    Latest      Week ago    Reading
      S&P 500 200-day moving average          463.9       463.1       Positive
      Stocks above 200-day moving average     53.0%       51.0%       Neutral
      Speculative sentiment: Put/call ratio   0.72        0.77r       Positive
      Insider sentiment: Vickers
        sell/buy ratio                        0.83        0.80        Positive
      
      INDUSTRY GROUP                                BLOOMBERG FINANCIAL MARKETS
      
                             % change    Strongest               % change
                            4-    52-    stock                  4-    52-
      FOUR-WEEK LEADERS     week  week   in group               week  week  Price
      1 GOLD MINING         13.0  -10.0  SANTA FE PACIFIC GOLD  22.8  NA     12 1/8
      2 INSTRUMENTATION     12.2   29.5  HEWLETT-PACKARD        13.8  32.6  119 7/8
      3 OIL EXPLORATION                  MAXUS
        AND PRODUCTION      11.3  -13.3  ENERGY                 53.6  16.2    5 3/8
      4 COMPUTER SOFTWARE    9.4   20.0  MICROSOFT              15.7  75.5   71 3/4
      5 MEDICAL PRODUCTS                 BOSTON
        AND SUPPLIES         8.8   34.3  SCIENTIFIC             28.4  49.6   23 3/4
      
                                     % change    Weakest        % change
                                    4-    52-    stock         4-    52-
      FOUR-WEEK LAGGARDS            week  week   in group      week  week    Price
      1 SPECIALTY RETAILERS         -8.6  -8.8   TOY 'R' US    -21.0 -33.6   24
      2 METALS                      -6.9  -5.4   ASARCO        -11.3  -8.0   24 1/2
      3 ALUMINUM                    -5.4   1.4   ALCOA          -7.1   1.0   37 3/8
      4 DEPARTMENT STORES           -5.4  -20.7  NORDSTROM     -14.8  -6.8   37 1/2
      5 SPECIALTY APPAREL RETAILERS -4.7  -25.2  TJX            -8.5 -55.5   12 1/8
      
      MUTUAL FUNDS                                             MORNINGSTAR INC.
      
      LEADERS                          LAGGARDS
      Four-week total return       %   Four-week total return                   %
      1 GAM GLOBAL               13.5  MORGAN STANLEY LATIN AMERICAN B       -26.4
      2 EXCEL MIDAS GOLD         10.8  WRIGHT EQUIFUND-MEXICO NATL.FID.EQTY. -25.9
      3 GAM INTERNATIONAL        10.7  TCW/DW LATIN AMERICAN GROWTH          -21.4
      
      1 FIDELITY SELECT                HERCULES LATIN
        HEALTH CARE              32.8  AMERICAN VALUE                        -50.8
      2 SELIGMAN COMMUNICATIONS        FIDELITY
        & INFORM. A              32.0  LATIN AMERICA                         -50.3
      3 GOVETT SMALLER COMPANIES 29.8  TCW/DW LATIN AMERICAN GROWTH          -49.5
      
      Four-week total return
      
      52-week total return
      
      RELATIVE PORTFOLIOS                                       DRI/McGRAW-HILL
      
      Dollar amounts represent the present value of $10,000 ivested one year ago in 
      each portfolio
      
      Percentages indicate five-day total returns
      
      U.S. stocks   Money market fund   Foreign stocks   Treasury bonds   Gold
      
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