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