Word: downward
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Dates: during 1930-1939
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...seem as direct as action. Ralph Bates's second novel never mentions Spain's civil war or the state of Europe. It is the tale of how six men found their way down through society to a Greek sponge-divers' island, went the rest of their downward journey together. Freeth was a South of England boy who had run away from home and wandered in some shady places before he murdered a French prostitute in her Marseille hotel. Skinner was a hard-bitten skipper who had wrecked one too many ships for his crooked employers. Legge...
After one more downward swoop that carried the latest Treasury issue nearly two points below par, the Government bond market leveled off last week for the first time since the decline began early last month (TIME, March 22). Widely regarded as marking the end of the long bull market in bonds and the start of an inflationary stage in Recovery, the drop in Governments was followed by the shelving of half a dozen corporate bond offerings and a general tightening of sensitive short-term money rates. By any normal standard money was still ridiculously cheap but the up trend...
...price of bonds reached the highest level in U. S. history. On that day the averages went above 106, which was more than 40 points above the Depression low. Failing to break its previous mark in a January rally, the bond market has been headed steadily downward ever since. After a wide-open break in Government issues last week there were few who dared predict that bond prices would better their old highs during the life of the present business cycle...
...reflection on Government credit. What the bond market showed, clearly, concisely, was growing apprehension over the course of inflation. With inflation come higher interest rates, and the cost of money and the price of bonds, whose rate of retirement is fixed, work in an inflexible inverse ratio. The current downward trend in bonds set in just about the time the Federal Reserve Board was getting set to cut excess bank reserves for the second time, a move which was sure to boost short-term if not long-term interest rates...
...grimy face peered downward from above...