Marketing Commentary- Q4 2004
What’s Been Happening? The dollar continued to fall relative to the Yen and the Euro, adding a tailwind to the returns from International funds. Meanwhile, easing oil prices put domestic financial markets more at ease and the US Stock Market earned 90% of its 2004 return in the past ninety days. Three months ago, markets fretted over the presidential election. As expected, stocks rose after the election uncertainty ended. Despite a backdrop of war, terrorist threats and an uncommon human disaster in Asia, financial markets had a normal year. Broad expectations for higher long-term interest...
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