Investment Figures of the Week

Investment Figures of the Week

Stocks meandered all week, awaiting the resolution of the battle in the bond

market over the direction of interest rates. Rates appeared to stabilize,

though at higher levels than before the Federal Reserve's Feb. 4 announcement

of a monetary tightening in order to ward off inflation. The markets haven't

figured out yet whether Chairman Greenspan is boxing with a phantom or whether

inflation is a real threat soon to emerge in full force. Until they do, markets

will perform listlessly.