Word: bond
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Dates: during 1960-1969
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...smoothest confirmation hearing concerned John Mitchell, Nixon's former law partner and now his Attorney General. The 55-year-old bond expert told the Senate Judiciary Committee that he would use electronic devices for "national security and against organized crime." Ramsey Clark, Mitchell's predecessor, had brusquely refused to obey a congressional directive to use wiretapping. Asked if he would mix politics with his work at the Justice Department, Mitchell answered that the 1968 campaign was "my first entry into politics, and I trust it will be my last...
...help curb the nation's overexuberant economy by making credit so costly that businessmen will borrow and spend less. Because they operate in directly, such restraints at best take effect only after a time lag of weeks or months. The immediate impact fell on the securities markets, forcing bond yields up and stock prices down...
Aiming at Business. The last time funds drained out of lending institutions at such a rate was just before the crisis that bankers call the "1966 credit crunch." Bond prices crashed, the Dow-Jones average plunged 18%, and mortgage money grew so scarce that housing starts fell to a postwar low. Though some pessimists fear that all this could happen again, the banks have considerably more cash on hand in 1969 than in 1966. The Federal Reserve is also using its monetary weapons with more finesse...
...Dynabank, is a form of computer time sharing that ties smaller banks into a large IBM storehouse of money-management data. By operating a special electric typewriter connected by telephone line to a computer center, a small-town banker can get a printout of information about conditions in distant bond and money markets, as well as economic forecasts for the nation or his region, and other data. If he is thinking of buying bonds, Dynabank will quote prices and yields of issues. If he wants to sell, the computer can tell him the market value of his own bank...
...trend toward tighter and costlier money-combined with expectations of continuing inflation-portends trouble in the U.S. securities markets. Bond dealers are afraid that even the high yields on fixed-interest securities are too low, relative to the rate of inflation. These dealers figure that they may have a tough time floating the issues that industry needs to expand and modernize. With somewhat less justification, stockbrokers worry that investors will switch out of stocks and into bonds because the difference in yields is so enormous. This month, the average yield on Triple-A corporate bonds climbed to 6.47%, while...