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President-elect Bush inherits moderating economy

By Evelina M. Tainer, Chief Economist, Econoday
12/15/00




After 36 days the United States finally got its election results. President-elect George W. Bush didn't even trigger much of a relief rally. Market players were tired of the ups and downs of this election, which generated only uncertainty in the market place for five weeks. In the end, it was company warnings about profit shortfalls that set the tone for the week. Economic data helped the bond market (weak economy spells interest rate relief) but only reinforced the view in the equity market that revenue growth will be anemic at best.

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