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Yesterday brought encouraging words on the inflation front–and confirmed steps we've already taken to harvest profits on inflation-protected bonds and redeploy the money elsewhere. Read More...
As April ended another airline, Eos, bit the dust. Like MAXjet, which folded a few months earlier, Eos offered business-class flights from New York to London at rates far below those of full-service rivals. My wife and I went to London two years ago on MAXjet. It was very pleasant. Alas, both it and Eos relied heavily on borrowing, and credit evaporated. Two more victims of the credit crisis.
And then on April 30, the Federal Reserve cut interest rates a quarter point, to 2.0%. The market rallied and then unrallied to finish little changed. But we had a very good months, for a change. Our ETF 50 Index™ advanced 4.8% in April, its first positive return in six months. What's more, this measure of the results of the broad ETF universe showed the strongest gains in the 16 months since the benchmark was introduced. Read More...
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