March 28, 2003

Steady inflation and low interest rates point to a low real rate of return and a slow economy. The markets do not see a strong economic pick up until the end of the year or beginning of next year. Some will attribute the slowdown to the war uncertainty. Indirectly we do, but our take is that the war may affect the fate of the economic package. The more congress reduces the president's economic package, the slower the economic recovery and the weaker the market will be.

You must have an active account to view these reports. You may register for a trial here

Download Complete Report in PDF Format

Download Complete Report in Word Format