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The Investor's Guide to Active Asset Allocation by Martin Pring

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5How the Business Cycle Drives the Prices of Bonds, Stocks, and Commodities

Introduction

Financial Market Progression through the Business Cycle

The Interest Rate Peak and Bond Market Low

Equities Bottom Out

Commodities Bottom Out

Interest Rates Bottom and Bond Prices Peak

Equities Peak Out

Commodities Top Out

The Double Cycle

Recent History in the Marketplace

Historical Turning Points for Equities Relative to the Economy

Introduction

In Chapter 2 we established that each business cycle goes through a set series of chronological events as each part of the economy undergoes its own individual cycle. Fortunately for the investor, this process also involves bonds, stocks, and commodities because their turning points may also be classified as economic ...

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