Word: bonding
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Outside the money markets, these might seem less than earthshaking events. But the prospect of steady interest rates already is heartening. On the stock market, which is hurt by rising interest rates, the Dow Jones industrial average rose 10.70 last week, to a close of 823.91. In the bond market, a $200 million offering of 33-year debentures by Michigan Bell Telephone sold briskly at a 9.6% interest rate, a smidgen below the 9.7% rate on a Bell System issue on Sept. 17. Rates at auctions of three-month Treasury bills, a bellwether of the market for short-term money...
Bruce Bassett, vice president for fiscal management at Columbia, said yesterday that Columbia will obtain the unrestricted loan in place of a bond issue that the university had been asking since last spring. The present bond market makes bond issues "impractical," he said...
...game itself was bittersweet. Playing 45 minute halves for the first time in decades, Harvard scored first on a beautifully flawless run by Richie Sherman. The assist went to Mike Demattel and the point after to kicker Gary Bond...
...twin setbacks sent Big Mac bond prices plunging as low as 75? on the dollar. Even worse, investors' lack of confidence spread to state securities that had no connection with the city's crisis. The state's housing finance agency was unable to refinance $69 million worth of securities and warned that it might have to default and stop work at dozens of housing, hospital and nursing-home construction projects. The city again seemed headed for default-this time on Oct. 17, when $450 million in debts came due-and officials feared that the state might...
William J. White, executive director of the housing agency, explained yesterday that because of a weak bond market the agency is unable to float enough bonds successfully to close the loans on all of its projects, including the Mission Park project...