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Perhaps there has been a "hidden" increase of interest
rates.
Have you ever considered a study of "real interest rates",
the 10 Year Note minus inflation?
While rates have declined, inflation has declined faster.
Ron
>
> This decline or whatever you want to call it is puzzling because it has
> occurred in an environment of declining interest rates. The decline in
> interest rates this year is not typical of what we would expect to see going
> into an extended bear market. Our long term market timing model based on
> interest rate relationships would indicate that this is only a short term
> correction in what is still a bull market. Does anyone familiar with Dennis
> Myers work and interest rate/ stock market relationships have any comment?
>
> Chuck
> traderclub.com
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