Investment Figures Of The Week
Stocks hit a brick wall, despite surprisingly strong third-quarter earnings. The reason: surging interest rates and fears of more to come. Especially disturbing to the bond vigilantes was that Fed Vice-Chairman Alan Blinder in a television interview said Fed tightening so far this year had failed to slow the economy. Still, inflation seems muted, and the price of gold is no higher than it was a year ago. The technical indicators shown on this page all read positive. So if rates retreat a bit, the market could really rally.
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