Word: bonde
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Dates: during 1950-1959
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...earlier, Federal Reserve Board Member M. S. Szymczak told a Washington audience that the Fed might have followed a tougher money policy were it not for the 4,700,000 U.S. workers still unemployed. His remark was interpreted to rule out any quick discount hike, and the bond market spurted up on the strength of it; after the announcement, the market slipped back again...
Amid the confusion, the Cabinet did its best to get a few things done. It drew up a plan to replace Batista's corrupt lottery with a lottery-bond program designed to help finance a $100 million housing project.* Last week, an accounting of the Cuban treasury's cash reserves was finally completed. Discovery: in five years. Dictator Batista squandered $423 million, leaving the country with only $110,710,947, or some $60 million less than the legal minimum. To rebuild the reserves, a system of import licenses was clamped on a long list of goods-with...
...lucky $25 bond holder can win as much as $100,000 if his number comes up. If not he can cash it in on a graduated scale: from 50% of its face value after one year to 110% after...
...failure of the latest debt "rollover" attempt was a fresh sign of softness in the Government bond market-and of the size of Secretary of the Treasury Robert Anderson's task of refinancing $42 billion of Government securities falling due this year. At a time when most investors want to buy stocks, real estate or other things as a hedge against inflation, Anderson is finding the public increasingly uninterested in bonds. Furthermore, Wall Streeters thought he had made a mistake in trying to sell securities with one year as the shortest maturity. At a time when investors were trying...
Anderson's troubles began last spring when it became clear that the Treasury would have to raise up to $12 billion to cover the Government's deficit for this fiscal year. But they did not become acute until summer. Then Government bonds, which had been providing speculators with fat profits as they rose while interest rates fell (TIME. Aug. 18), went into a slump when interest rates began to climb again with the economic recovery. As bond prices slid, their yields rose. Secretary Anderson found himself in a vicious circle; to sell his securities he had to keep...