1985-1986 - 45% Gain In 12 Months

               The Fed really wanted this rally.  The cuts in the Discount rate here were significant.   They
      took place in a rising market.

                                           3/7/1986                                     7.0%    Drop in rates in on-going bull market
                                          4/21/1986                                    
6.5%   Drop in rates in on-going bull market
                                          7/11/1986                                    
6.0%   Drop in rates in on-going bull market
                                           8/21/1986                                   
5.5%   Drop in rates in on-going bull market




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