With the DJIA approaching 10,000 again, let’s reminisce about 1999, the year it first passed that magic level on March 29th. Millennium by the Backstreet Boys was the best selling album, American Beauty won the Academy Award, the Euro was established, SpongeBob SquarePants aired for the first time, Hugo Chavez was elected President of Venezuela, Karl Malone, Pudge, Chipper Jones, Jagr and Kurt Warner won MVP awards and the average price of a gallon of gasoline at the pump was about $1.20. US nominal GDP ended at $9.6b vs $14.1 as of Q2 ’09. Also, on March 29th 1999, the DXY was at 100.36 (now 75.60), the CRB was at 192.40 (now 269.15), gold was at $280 (now $1,060), oil was $16.44 (now $74.80), corn was $2.32 (now $3.85), copper was $.62 (now $2.83), the 10 yr yield was 5.19% (now 3.38%), and the fed funds rate was at 4.75% (now 0-.25%). Oh, how time flies.

Category: MacroNotes

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6 Responses to “DJIA 10,000, let’s reminisce”

  1. cvienne says:

    Let’s not… (reminisce)

  2. tagyoureit says:

    My band released its first CD EP and we won “Best Pop-Punk Band” at a NJ local music venue that year.

  3. tagyoureit says:

    Oh and “Song of the Year” for our song ‘Tag You’re It”.

  4. [...] above the psychological 10000 level, prompting Miller Tabak equity strategist Peter Boockvar to put the time frame in perspective. Back in 1999 the Backstreet Boys had the best selling album, [...]

  5. Moss says:

    And shortly thereafter we got Bushed. So basically we are now much worse off.

  6. [...] Boockvar, writing on the Big Picture , has a nice piece comparing various asset prices and financial benchmarks during the Dow Jones [...]