In this Issue:

•What's Up With Yields: S&P believes the cause for the yield advance is twofold: elevated inflation worries and increased repatriation of foreign investments.

•Intelligencer: Headlines, Highlights, and What's on Our Minds

•The Observatory

•Rising & Falling Stars

•IPOs Surge in Europe

•Sifting Through Staples No matter how bad - or good - things may be, you'll always find time to eat and bathe.

•Recommended Consumer Staple Stocks

•Part-D Party for Pharmaceuticals: Second-quarter comparisons will be tough, but we expect solid profit growth ahead.

•Safe, But Sound: Diversified portfolios always benefit from a dependable asset.

•High-Quality Capital Appreciation: Investors are pouring money into Franklin Resources' funds to capitalize on their international exposure and strong performance.

•Top Ten Portfolio: This focused list, launched December 31, 2001, posted a total return of 59.2% from inception through May vs. a gain of 46.9% for the S&P 500.

Some of the Companies featured:
Merrill Lynch
Nicor
Principal Financial Group
W&T Offshore
Estee Lauder
Kellogg
Longs Drug Stores
Capital One Financial
Franklin Resources
Linear Technology

S&P Information Products

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The Outlook
Search Engine Survey
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