Rate hike may be on the way

One year after the terrorist attacks on the World Trade Center and the Pentagon, most financial commentary is focused on whether stocks have bottomed. What's missing right now is any meaningful discussion of whether interest rates have seen their lows for the cycle. True, the two questions are opposite sides of the same coin. Treasuries have been trading inversely with stocks for several years. The post-11 September environment just exacerbated the trend. In the last six months, the Standard & Poor's 500 Index has moved in the same direction as the 10-year note yield (opposite directi...