... linked the strength of the dollar to the strength of the econ- omy and to the interest rate differential. When the dollar refused to weaken, the last of the trend fighters gave up and the exchange ... result, they could report substantial earnings gains, and some of them actually increased their dividends in 198 3. Ironically, the formation of the Collectives, and the permissilre attitude of the ... bonds. The Tax Reform Act of 198 6 has had the perverse effect of accelerating the pace of transactions prior to its taking effect on January 1, 198 7. Then came the Boesky affair and the arbitrage...