Commentary
Last Oct. 19 was the anniversary date of the big stock market crash of 1987, and there was certainly a lot of gloom in the air on that Thursday, the 19th. The stock market had been falling since July 31 and the 10-year Treasury yield was approaching 5 percent. It took another week for the stock market to bottom out, but the decline in the 10-year Treasury rate is what led stocks back up, as the 10-year Treasury rate plunged to 3.83 percent intraday last Thursday! As this trend continues, with the Federal Reserve pledging to make three (or more) rate cuts in 2024, growth stocks are gearing up to explode to the upside in the New Year.
