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Dow then. Dow now Add to ...

Peter Boockvar, writing on the Big Picture, has a nice piece comparing various asset prices and financial benchmarks and during the Dow Jones industrial average's first rise above 10,000 (in March, 1999) and today.

Here's a snapshot of his findings (minus his comparison of hit tunes and Academy Award winning films). The theme that emerges: This is not a repeat move of 10 years ago.

Gold in 1999: $280 (U.S.) an ounce. Today: $1065.

Oil in 1999: $16.44 a barrel. Today: $74.80.

Copper in 1999: 62 cents. Today: $2.83.

Yield on 10-year Treasury bond in 1999: 5.19 per cent. Today: 3.38 per cent.

Fed funds rate in 1999: 4.75 per cent. Today: 0 per cent.

What's also surprising is just how many Dow components are well off their levels in March, 1999 - and that's after ignoring debacles like General Motors Corp. Here are a few examples.

Microsoft Corp in 1999: $34. Today: 25.85.

Citigroup Inc. in 1999: $30. Today $4.94.

General Electric Co. in 1999: $37. Today: $16.80.

Follow on Twitter: @dberman_ROB

 

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