Business Services Industry
Financial Picture May Get Brighter at Reuters.
Knight Ridder/Tribune Business News, November, 2002
By Brian O'Connor, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 9--The old saying about hard times is that the only people who aren't worried are those who don't know what's going on. Stock markets are rather like that these days.
Who would have predicted a year or two ago that the US Federal Reserve's interest rates would hit 1.75 percent, stay there for 11 months, and then fall?
That the discount rate at which banks borrow would be 0.75 percent? That shares would be looking at their third successive year of falls?
Trying times, not least for share tipsters. But let us keep trying.
For much of this bear market, it has been better to seek shelter in defensive stocks with modest ratings and solid yields....
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