Word: borrowings
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Many credit BABs with reviving the muni-bond sector. Since the program was announced in mid-February, muni-bond interest rates, which are what local governments have to pay to borrow, have fallen dramatically. The typical municipality is now paying 3.7% when they issue a bond, down from as high as 4.5% in January, before the BABs program was announced, according to Barclays Capital. Some of the drop in yields reflects the improvement in the economy in general, and the easing of the credit crunch. But muni-bond-market observers say BABs have played an important role as well...
...group when they meet Nov. 12-13 in Singapore. The global financial crisis has already done it for them. As Asia searches for a new growth engine to replace the economically sputtering U.S., and as the U.S. looks increasingly to Asia for consumers to sell to and governments to borrow from, the question hovering over the summit is, Can the leaders of the world's fastest-growing region find a new economic model that works for both East and West? (See pictures of the global financial crisis...
...disruptive to market cycles. Sales and pricing ultimately have to be set organically, not by short-term government subsidies, says Bose George, an analyst at Keefe, Bruyette & Woods. "Pricing has to be determined by how much money people have to spend and the interest rates they have to borrow to buy the home," he says. "The tax credit - while it could help in the short-term - is not meaningful in the longer-term." Says Widner: "It postpones the inevitable reconciliation...
...Federal Reserve Chairman Ben Bernanke has long let it be known that he thinks the imbalances between the U.S. and China contributed to the financial breakdown of the global economy. China's excess savings were sloshing around and needed a home, and profligate America was more than willing to borrow those savings. On Oct. 19, Bernanke gave a speech in which he said that while personal savings in the U.S. is now rising, the government had to get its own accounts in better order. He then pointedly noted that "policies that artificially enhance incentives for domestic savings and the production...
...play in band events, it’s a wonder how they all have instruments. “Many alums bring their own instruments,” explains Oppenheimer, “but for large instruments like the tuba or sousaphone, we contact area schools and ask to borrow them. For instance, this year, we borrowed instruments from the band departments at both MIT and [local high school] Cambridge Rindge and Latin. We have a good relationship with them, and borrow from them, just as we’d let them borrow from...