Word: bondses
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Though as angelic in appearance as any child model in a TV commercial, he has none of the self-consciousness that often defeats kids onscreen. When he fights with his father over the dinner table or cries for his mommy in the night, the emotions are not italicized but spontaneous...
Since the Federal Reserve action, the prime interest rate paid by top corporations has jumped another 2% beyond its previously record heights to reach 15½%, and bankers believe that it may go still higher. Interest rates on Government bonds have leaped above levels prevailing at the outbreak of the...
Prices gyrate two or three points between lunch and cocktails. When interest rates rise bond prices fall-and often sharply. That is because securities sold earlier at lower rates are less desirable than new bonds that will pay a higher return. In just a few hours last month, the price...
Four New York bond trading houses have failed. One of the victims is Frederick Gorsetman, 34, who, riding along with rising bond business in August 1978, opened his own firm. But when the Federal Reserve drove up short-term interest rates, his firm had to absorb devastating losses on bonds...
Such tales have not been limited to small firms. Chemical Bank, which lost $6 million in post-Volckerism bond dealing, abruptly fired its trading manager. A billion-dollar sure thing- the issuing of IBM bonds last month- turned into a pumpkin for such blue-ribbon investment bankers as Salomon Bros...