A simple truth no longer true

During the late sixties and early seventies, my duties at WSB-Television included reporting the business news.   It required me to learn about the stock market and its many vagaries. One of the things that’s still true is that the market intensely dislikes uncertainty.   Here’s something that’s no longer true:   the stock market doesn’t go up when interest rates go down.   The FED has guaranteed low interest rates for at least the next 2 years which might suggest a steady rise in the market.  Perhaps that will happen, but investors apparently want to see more than guaranteed low interest rates.  Truisms change as do we.

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