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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: donald sew who wrote (17130)	6/13/1999 5:44:00 PM
From: Merritt	Read Replies (1) of 99985

Donald, I don't have the data to back up my memory, but bond holders took a bath in the 70's. At one point in the late 70's, as I remember it, quality commercial paper got as high as 22%, and I think short-term gov bonds got up to around the 18% area...but I'm not certain on that. With the extreme inflation (when you went into the supermarket, there'd be three or four price stickers on a can...each one for a higher price.) that occurred during Carter's administration, nobody wanted to hold a diminishing asset, as bonds were perceived to be. As to 1987...to me that wasn't a bear market, just a correction. A correction that was precipitated by the Fed's raising interest rates.

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