ECONOMICS The global economy is improving, led by Asia. Japan is coming out of its long recessionary period and has had good economic growth for the last two quarters. Developing Asia is also growing nicely, recovering from 1998’s problems in Southeast Asia. China continues to do well and those who have been predicting a devaluation of the Chinese currency are again being proven wrong. North American and European economic growth is good and corporate profits world-wide are expanding.
MARKETS All of the above economic trends and the rise in corporate profits would be salutary for U.S. and foreign stocks . . .
Continue Reading: September 30, 1999
