Will Wall Street Hit A Wall?
Wall Street should get another gift from the Federal Reserve in 1996: continued low interest rates. DRI/McGraw-Hill predicts that 30-year Treasury bonds will end the year at 6.26%, up just a tad from 6% at yearend 1995. Rock-bottom rates mean another super year for the securities industry, since investors will keep deserting bank certificates of deposits to seek higher returns in the stock market, boosting the market and Wall Street commissions. "From everything we see, it's going to be another good year," declares John J. Mack, president of Morgan Stanley & Co.
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