Y2k
Y2K pessimists are approaching their moment of truth. In seven weeks the world will, or will not, run into more trouble than most people think. Investors will, or will not, suffer last-minute jitters as the millennium draws near.Yes, yes, I know—it's not yet the millennium, from a technical point of view. As a stern band of readers likes to remind me, only morons believe the millennium falls on Jan. 1. The 1,000-year span actually ends on the year's last day, Dec. 31, 2000. Well, that may be their millennium, but it's not mine. I'm partying now. A more interesting question than calendar dates is whether the stock and bond markets will be partying too. Has the Y2K selling already happened (as I believe) or will it erupt in the final days? If there's the usual year-end rally—and last Friday looked good—will we wake up with a hangover? When you read this, the Federal Reserve will probably have made its latest decision about interest rates (its open-market committee meets on Tuesday, Nov. 16). Either result—rates up or rates flat—should be good for stocks, says economist Irwin Kellner of Hofstra University in Hempstead, N.Y. Investors will feel more secure for the next few months. The markets don't expect the Fed to raise ra
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Some common words found in the essay are:
, Stock Fund, Merck—but AOL, December Y2K, Management York, Sinai It's, Y2K Pacific, Analyst Montreal, Economics York, AOL P/E, stock fund, rate hikes, 11 percent, managers shouting, value stocks, growth stocks, bull market,
Approximate Word count = 987
Approximate Pages = 4 (250 words per page double spaced)
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