January 13, 2013
SADLY, THE BOOM CAME BEFORE EMPLOYMENT PARTICIPATION RATES HAD BEEN REDUCED TO THEIR NATURAL LEVEL:
Bull market rolls on as global financial markets overcome fears (Tom Petruno, January 13, 2013, LA Times)
Global financial markets overcame a torrent of fears in 2012 to post strong gains nearly across the board.Returns on most categories of stock mutual funds were in double digits. The average domestic equity fund generated a total return (price change plus dividend income) of 15%, after losing 2.5% in 2011, according to investment research firm Morningstar Inc.It was the third calendar-year gain in the last four years, as the bull market that began in March 2009 rolled on.Bond mutual funds also posted positive returns as market interest rates continued to slide, boosting the value of older bonds issued at higher rates.
Posted by Orrin Judd at January 13, 2013 9:33 AM