Word: bonding
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Trading wasn't always smooth after the bond market reopened Thursday. A communications breakdown with the Bank of New York, one of the main banks that process Treasury-bond trades, at one point delayed settlement of transactions worth at least $400 billion. By Friday, the bank insisted that "virtually all" problems had been solved, though a government official disputes that. At week's end the yield on the 10-year T-bond, which many mortgage rates are based on, stood at 4.55%, nearly a percentage point lower than it was four months...
...anguished New Yorkers who lost loved ones in the World Trade Center, Howard Lutnick was perhaps the hardest to watch on TV, especially for anyone who has ever known responsibility for a lot of people. Lutnick, 40, is CEO of the bond-trading firm Cantor Fitzgerald, which appears to have lost as many as 700 of its 1,000 Trade Center employees, those who were at work last Tuesday between the 101st and 105th floors of the north tower--just 10 floors above where the hijacked jet plowed in and exploded...
...audience is surprised to learn Gabriel’s suspicions might be justified by his wife’s surprisingly intimate relationship with a young music student (a quiet Jesse Pennington); the bond, however, turns out to be something far deeper than lust and stronger even than true love...
...appears to be in no such jeopardy. Already, there are faint signs that the beleaguered manufacturing sector is ready to recover. If bond yields move much lower and tapped-out consumers can get better terms on their debt, a recovery may not be so far off. If we need a hero, patience may be its name. The good news is that a lot of risk has already been wrung out of the stock market. So this is no time to run scared, even though the cranky teacher is back in the classroom and it seems a long time till next...
Immediate annuities can provide substantially more current income than securities like government bonds. These days, a $100,000 joint-and-survivor-annuity premium generates about $7,300 in annual income, compared with $5,400 for a $100,000, 30-year U.S. Treasury bond. Note, however, that with a bond, you get your $100,000 back; an annuity uses up the principal. Annuity income can vary widely, so it pays to get quotes from several insurers and scan websites like WebAnnuities.com An insurer's financial strength also matters; check the ratings from services such as Moody's or A.M. Best...