Stocks Break New Record; Economic Outlook Clears
Published Friday, November 1, 2019 at: 7:00 AM EDT
The Federal Reserve uninverted the yield curve and the economic horizon just turned brighter.
Despite the trade war with China, a shrinking U.S. manufacturing sector, and political uncertainty, the clouds threatening an end to the 10½-year old expansion have cleared.
As of Halloween, the financial world made sense again. This was no trick! All treat.
A short-term T-Bill, as of October 31st, 2019, paid less interest than a long-term T-Bond.
The restoration of financial logic indicates that investors worldwide believe the Fed reversed itself quick enough to avert causing a recession. The threat of a recession is over.
The Standard & Poor's 500 stock index, the main benchmark of current financial and economic conditions, closed the week at a new all-time high of 3,066.91.
This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial or tax advice without consulting a professional about your personal situation. Tax laws are subject to change. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. No one can predict the future of the stock market or any investment, and past performance is never a guarantee of your future results.
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