Word: bonding
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...have a new, extended family of all ages from every corner of the country. I am always touched when, walking down a street or through an airport, a man or woman of a certain age catches my eye and says quietly, "I'm in that generation." It's our bond...
...taxes is never easy. Last fall, when TIME visited Webster Groves High School in suburban St. Louis, Mo., for a special report, "A Week in the Life of a High School" (Oct. 25, 1999), school officials were anxiously plotting to put a tax increase and a new $10 million bond levy before the town's voters this spring. Altogether, the two measures, earmarked to pay for building repairs and a teacher-salary hike, would add $290 to the annual tax bill of a $144,000 home. Last month both issues passed--58% approved the tax increase, and 62% voted...
...investors, tech stocks have always been wobbly, with their stratospheric price-to-earnings ratios and fluid business plans; now they're starting to careen, mostly downward, with regularity, and other bets are only getting better. "The higher interest rates go, the more lucrative bonds and T-bills are," says Baumohl. "When 30-year bond yields get over 7 percent, with absolutely no risk, money gets shifted out of the techs and put elsewhere." And then there are the fundamentals, which were never the tech sector's strong suit anyway. "When rates go up, companies don't have as much money...
...mouse click. Democratic countries find that their options for political choice--whether in the realm of social policy, economic regulation or culture--are curtailed by the increased mobility of financial capital and information. Do you want to extend your social safety net a bit further? The faceless bond market will zap your country's interest rates. Do you want to prevent your airwaves from being taken over by Howard Stern or Baywatch? Can't do it, because the world of information is inherently borderless. Do you want to pass a law to protect endangered species in your own country...
HASSETT The equity risk premium has declined. Let's define this, by the way. Equity risk premium is the extra return that investors demand because they think stocks are riskier than the benchmark [30-year Treasury] bond. O.K., it has declined roughly from 7% to 3%. [A decline drives up prices.] Alan Greenspan says, "The question is, Is this decline temporary or is it permanent?" We offer a third alternative we think is a reasonable alternative, which is, Will it continue [to decline] to what we believe to be its reasonable resting place, which is around zero? If stocks...