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Article: Slim gains don't whet investing appetite.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 25, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Lorene Yue, Chicago Tribune Knight Ridder/Tribune Business News
Jul. 25--As the Dow Jones industrial average on Friday skidded to a close below the 10,000 point-milestone marker for the first time since May, people were scratching their heads wondering where they should put their money.
Old-fashioned passbook savings accounts are paying less than 1 percent. Money market accounts aren't much better at 1 percent to 2 percent. Two-year certificates of deposit pay almost 3 percent.
Five-year bonds, which yield 3 1/2 percent, don't look all that attractive either. Why lock into a bond when rates are expected to go up?
"It seems like ...