The Cost of Uncertainty

The stock market looks due for a rally but it isn’t rallying. The government-bond markets, especially the U.S. one, look due for a break but they’re holding firm. The situation feels a bit like it did in the second half of 2000, when a lack of political leadership, combined with the uncertainty of the presidential election, contributed heavily to the stock market’s then-seemingly relentless decline. Time will tell if the comparison between then and now is apt, but I wish our government would take action soon against Iraq.