Word: downwardly
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Bond traders can be a perverse group. A whiff of economic recovery had Wall Street pushing bond yields skyward (and prices downward) even before last week's report that GDP grew at a surprisingly strong annual rate of 2.4% in the second quarter. Now even stronger growth is widely expected the rest of this year. Since the middle of June, the yield on the benchmark 10-year Treasury bond has surged to nearly 4.5% from 3.1%--a staggering reversal that is shutting down mortgage refinancings and forcing up business borrowing costs. If the trend persists much longer, these higher rates...
...simulates a true weightless environment by flying in repeated parabolas, achieving free-fall as it arcs downward at the peak of its flight. The “microgravity” conditions last for approximately 25 seconds, during which all the teams inside perform their tests...
...vehicles officially labeled as passenger cars, but for the entire fleet of vehicles, including SUVs and trucks, it is much worse. The best overall fuel economy of 22.1 m.p.g. (for U.S.-made vehicles) was achieved in 1987-88. Aside from an occasional upward tick, that figure has inched steadily downward, to 20.4 m.p.g. last year...
...Bacanovic--then off on his own holiday--had just learned that ImClone co-founder Sam Waksal wanted to sell all the ImClone shares in his Merrill Lynch account, worth $4.9 million. Bacanovic called Stewart's assistant and left the message "Peter Bacanovic thinks ImClone is going to start trading downward...
President Bush's proposed solution is a package of tax cuts mainly for upper-income Americans. The current "recession mentality," he argues, has led to extensive corporate cost cutting and downward wage pressures that will abate as the economy revives. "When demand goes up, wages will follow," Bush says. No doubt faster growth, when it comes, will help boost employment and stabilize pay. But it is unlikely that wages will rebound quickly. The world has changed. The spread of technology and skills, of Internet communication and cheap shipping, means that today more U.S. firms must compete against foreign rivals that...