On the front line

Article Abstract:

Nasdaq has seen prices rise to new highs and the US economy appears to be slowing, while bonds have a stronger outlook. Traditional, non-internet stocks are seeing a return of selective buying, and there is a very high level of new issue activity. These trends make it difficult to assess US portfolios realistically. Strong world demand for US assets has benefited the US dollar. An obvious weakness lies in US economic prospects, and unemployment gradually moved up in Feb 2000. Economic indicators can change from month to month, as has occurred for some time in the US.

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Recession warning from bonds

Article Abstract:

There is concern about the implications of a drop in US long bond yields. Yields for 30-year bonds are less than yields for two-year bonds, and this has previously been a sign of recession. The economy should grow for some years prior to a recession, according to most indicators, but there is concern about a possible hard landing for the US economy. Defensive stocks may prove to be a good investment, though economic downturns also tend to have little impact on the pharmaceutical industry, one analyst comments.

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Slowdown is not so promising

Article Abstract:

The performance of government securities at times of economic slowdown is examined in detail.

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