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Article: LABJ Small Cap Index drops as interest rates rise. (Los Angeles Business Journal Small Cap 100) (Small Business Quarterly)
- Article from:
- Los Angeles Business Journal
- Article date:
- June 27, 1994
- Author:
CopyrightCOPYRIGHT 1994 CBJ, L.P. 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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Broader indexes also post dismal spring performances
No stock index was safe this spring from the dampening affects of the Federal Reserve Bank's decisions to raise short-term interest rates. Those moves were reflected in the performance of the Los Angeles Business Journal Small Cap 100, an index created for the Los Angeles Business Journal by Santa Monica-based investment management firm Wilshire Associates Inc.
The Fed actually raised interest rates four times in 1994. Three of the four interest rate hikes fell between Feb. 28 and May 31, 1994, the period covered for this report. The Fed raised rates on Feb. 4, March 22, April 18 and May 17. In total, ...