Word: bonde
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Dates: during 1950-1959
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...faster to keep U.S. Government securities rates in line with the overall money market. By hiking rates a fraction at a time, always too little too late, Secretary Humphrey has, in effect, guaranteed the failure of long-term issues. He has also increased the margin between Government and corporate bonds instead of narrowing it. On a straight interest basis, Government bonds paid as much as 2.37½^% in 1952 v. an average 3.42% for corporate issues; today, the highest paying Government bond rate is 3¼% v. almost 5% for some corporate issues...
...heyday of foreign bond speculations in the '20s, Latin American governments floated ever larger issues at interest as high as 8% on the U.S. market, and many banks turned to cajolery and a few even to bribes to handle the business. With the Depression, Latin countries defaulted to the tune of $1.3 billion. Last week the dance of the millions came to a slow-beat and reasonably happy...
Down with Pessimism. With the interest rate on new bond issues skittering upward, the market for old bonds with a lower coupon rate inevitably sagged to new lows. The Dow-Jones bond average of 40 representative rails, utilities and industrials dropped to 88.14% of face value, the lowest since 1942. The drop wiped out the gains since last winter, when for a short time bond prices seemed to have reached the bottom and started upward (TIME...
...competition for available funds, many borrowers decided to wait. The U.S. Public Housing Administration, which borrows funds for subsidized-rent public-housing projects, announced it would be out of the bond market until fall unless money loosened up considerably. Southern California Edison Co., after taking a look at the market, withdrew a $30 million preferred-stock issue until the time for borrowing was more propitious...
...with a $122 million debt. Like a nine-lived cat, I.T. & T. was saved when the U.S. went off the gold standard, raising the value of foreign money. Sosthenes worked his way out of the hole (minus Hernand who died in 1933) by getting foreign subsidiaries to float local bond issues, boosting the parent company's U.S. credit. But no sooner was he solvent again than European upheavals put him right back in trouble...