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Economic review.

Publication: Westchester County Business Journal
Publication Date: 12-SEP-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
NATIONAL ECONOMY: resilient ... we hope. Despite soaring oil prices, the U.S. economy is performing well. Odds are that this will continue and that interest rates will rise further. Some, however, predict that bond yields will decline or remain very low. I think that's plausible but not likely. And it might not be nearly as attractive as it might seem at first blush.

Instead of retreating as predicted, oil prices were pulled up by strong global demand. Little relief is in sight: futures markets expect prices to hover around $55/barrel as far as the eye can see. My home heating oil dealer's fixed price contract for the coming winter corroborates this. The price is about 50 cents per gallon more than last year, which was also a lot higher than the year before!

Although business activity seemed a little soft in...

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