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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 652.53-1.5%Nov 20 4:00 PM EST

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To: Elroy Jetson who wrote (65042)12/22/2000 3:04:44 PM
From: Crimson Ghost  Read Replies (1) of 99985
 
The other big factor for Hays is the incredible collapse in interest rates. 3-month T-bills down another 20 bp to 5.26% today. 10-year Treasuries down to 5%

Note that 10-year Treasuries are the benchmark for the Fed's stock valuation model. And today the S&P 500 is fairly valued according to this model -- the first time that has happened since the 1998 trough.
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