Market Prices Now and 50 Years Ago

November 22, 2013

The table below compares some current vital market signs to their levels on November 22, 1963.  The dollar over this period fell at an annualized rate of 6.9% per annum against gold, 2.5% per year against the yen, 2.1% per year against the Swiss franc, and 2.0% per year against the mark-translation value of the euro.  In contrast, the dollar has appreciated by 1.0% per year versus sterling.  The 10-year Treasury yield is now 137 basis points lower than then, and the Dow Jones Industrials has recorded annualized gains of 6.4%.  The Canadian dollar is worth almost the same now as 50 years ago.  U.S. real GDP advanced 3.0% per annum in this half century but just 1.8% per year since the end of 1999.  Consumer price inflation averaged 4.1% per annum over the last fifty years but a mere 1.0% during the past year.

  November 22, 1963 November 22, 2013
Yen per Dollar 360.00 101.29
Marks per Dollar 3.9736 1.4444
Swiss francs per $ 4.3155 1.2293
CDLRs per USD 1.0769 1.0542
Dollars per Pound 2.7979 1.6111
Gold, $ per oz. 35.08 1244.4
10YR Treas. Yield 4.12% 2.75%
DJIA 711 16,032

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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