Word: bonding
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Dates: during 1980-1989
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...nation's weak and troubled economy, the bond market's sudden jitters could not have come at a worse time Interest rates have dropped dramatically since last summer, when even the highest grade corporate bonds yielded close to 14%. But triple-A corporate bond yields still hover above 11%, and lower rated issues provide yields substantially higher Those are levels that many economists feel are far too high for sustained economic recovery...
...Bond buyers are demanding the high rates because they see so many things happening that could reignite inflation They fear, for example, that Washington's free-spending politicians will do litle to prevent a new price surge, leaving he fight once again to the U.S. Federal Reserve, which has carried the burden almost alone since...
...eventually gave way, beginning in early 1978, to a rebirth of high inflation. Then the Federal Reserve began to tighten up on credit to cool off the economy and bring inflation to heel. Yet making money scarce automatically makes it more costly, thus pushing interest rates up and sending bond prices skidding...
...economy as too little. While the Fed walks the razor's edge between economic collapse and runaway inflation, it badly needs the support of both the Congress and the Administration to curb spending, chop the deficit and prevent the nation's current economic troubles, and the bond market's jitters, from turning into something far worse. -By Christopher Byron. Reported by David Beckwith/Washington and Frederick Ungeheuer/New York
...investor in municipal bonds, it was long thought, also had to own a winter home in Palm Beach and play polo in his spare time. Only the very rich, the reasoning went, would invest their money at low rates in order to receive tax-free interest. However, as inflation has pushed more and more middle-class Americans into higher tax brackets, there has been a growing curiosity about these complex securities. Bond Salesman James Lebenthal has spent ten years trying to raise the public consciousness about municipal bonds, and has gone about the task in an unorthodox way. Instead...