Word: bondses
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The bike-lane episode reminds me that you'd better put "contentious" near the top of that list, right under "funny looking." (Not just "funny looking," come to think of it, but also "funny": New York is the only city I've ever been in where almost everyone you meet...
-- If you already are rich, keep your eye on general-obligation municipal bonds (GOs). They're tax-free and, being "general obligations" of a state, city or county, they are highly unlikely to default. It may be too early to buy them -- the level of interest rates may rise, and...
No sooner had OPEC made its announcement than the Bank of Japan raised another cause for concern: it upped its discount rate 0.75%, to 6%. The central bank's fifth such increase in little more than a year, it should not greatly slow the potent Japanese economy, which is growing...
Leftist radicals who think capitalism thrives on war must have wondered what on earth to make of last week. The prospect of combat in the Persian Gulf touched off something resembling panic throughout the financial world. Stock prices sank rapidly in New York City, Tokyo, London, Paris, Frankfurt. At the...
On Friday markets generally steadied as traders and investors began to suspect that the earlier nose dive had been an overreaction: nothing so absolutely awful had happened yet. In Manhattan the Dow Jones industrial average climbed 49 points to a close of 2532.92 -- still down 112 points, or 4.2%, for...