Word: bond
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Dates: during 1970-1979
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Wall Street's bond market traditionally has been the haven for little old ladies with poodles. Unlike the frantic gold or stock exchanges, the "fixed income market" was as relaxed as a Norman Rockwell painting. On a normal day, prices might change one-sixteenth of a point...
...more Since the Federal Reserve constricted money, bond trading has been more Jackson Pollock than Rockwell. Says Merrill Lynch Vice President Peter Goldsmith: 'This has been the worst period the bond markets have ever experienced...
Prices gyrate two or three points between lunch and cocktails. When interest rates rise bond prices fall-and often sharply. That is because securities sold earlier at lower rates are less desirable than new bonds that will pay a higher return. In just a few hours last month, the price of 30-year Government bond fell two points-from 91% of face value to 89%-and bond dealers lost $20,000 on a mind lot $1 million purchase of the issue. In this environment, corporations are forced to raise interest rates still higher to attract new customers. Since the beginning...
...time predinner cocktails are served, the mood is cheerier. "We were marvelous amateurs," sighs Margaret Sherman, a Norwalk, Conn., housewife who served in a counterintelligence unit in London and Paris. Donovan ignored the advice of the creator of James Bond, Author Ian Fleming, who as a British naval intelligence officer in 1941 described the ideal spy as middleaged, sober, discreet and experienced. Instead, Wild Bill sought out impatient young people who did not mind being bold or even "calculatingly reckless...
...Bond gives a mind-gripping performance, handling Honey's emotional transitions with breath-taking ease. Her performance is the most compelling in the show. From the giddy drunken beginnings when it appears that the peroxided Honey has a mind-wrenching hysteria of the third act, Bond uses her body and voice to convey an infinite variety of shaded feelings. At times, when the sheer terro of reality rushes in on her, Bond's performance is almost too painful to watch. When Honey rushes off stage, sickened by alcohol and unable to endure the destructive games, our revulsion is almost...