Word: bonde
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...multimillion-dollar salaries of Harvard’s top money managers declined in their last full year of work before they left to form their own fund. Former bond managers David R. Mittelman and Maurice Samuels were paid $18 million and $16.9 million, respectively, for their work at Harvard Management Company (HMC), which invests the endowment. Jack R. Meyer, the firm’s former president, received $6 million for the fiscal year that ended June 30, 2005. The University disclosed the salaries on Dec. 21, the first day of winter break for undergraduates. The performance-based salaries dropped...
...here we are: The 10-year Treasury bond, which is Wall Street's favorite gauge of long-term interest rates, hit 4.343% on Tuesday while the two-year Treasury bill, a benchmark for short rates, hit 4.347%. Put aside the fact that this inversion is minuscule, and had evaporated by mid-day Wednesday. Inversion is inversion, and this unwholesome circumstance has occurred before every recession in the last 40 years. The logic is simple. Bond traders push long-term yields unusually low when they feel that short-term rates are unusually high and will choke off business borrowing and crush...
...What's abnormal today is how low long-term rates have remained, explained at least in part by China's and Japan's historic demand for Treasury bonds. Absent unprecedented foreign demand, Treasury bond yields likely would be well above short-term yields today-and Chicken Little would have no audience. That's not to say the yield curve won't invert again, and grow more pronounced. If it does, be warned. But we're not at the breaking point today, and may not get there for years...
...Former bond managers David R. Mittelman and Maurice Samuels were paid $18 and $16.9 million, respectively, for their work at Harvard Management Company (HMC), which invests the endowment. Jack R. Meyer, the firm's former president, received $6 million for the fiscal year that ended June...
...million, while bond managers Shawn Martin and Matt Early earned $5.4 million and $4.6 million, respectively...