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sury bills and certificates of deposit (CDs).
According to the weekly index of municipal bonds compiled by Scott & Stringfellow, the average yield of Virginia municipal bonds is at 4.7 percent —with some of the bonds yielding as low as 2.9 percent.
In addition to the national stocks performing well, the Scott & Stringfellow7 index of regional stocks has shown a strong upw’ard movement in the past year.
From a low of 689.77 in June 1992, the regional index reached a peak in June 1993 of 1,090.36, before settling down to this w eek’s 959.44.
According to Bev Crouch of Scott & Stringfellow in Warrenton, stocks of local companies tend to echo activity in the national marketplace.
“[Virginia stocks] are going to mirror whatever is going to happen nationally,” Crouch said. “If stocks don’t do well nationally then there’s going to be a hard time for Virginia stocks to do well too.”
Crouch foresees strong upward activity in pharmaceuticals on news that the White House health care reforms will not include price controls.
93.3%