Word: flutterer
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Dates: during 1970-1979
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...summer borrowers have been waiting for evidence that a drop in interest rates would turn out to be the real thing rather than a temporary flutter. Last week they got a strong sign as the bond market passed a critical test. On a single day, New England Telephone and Telegraph and International Harvester simultaneously floated issues totaling $275 million, a financing load that in almost any week earlier this summer would have depressed bond prices and sent interest rates soaring again. Somewhat to the surprise of underwriters, nearly all of the bonds were sold promptly, and interest rates stayed down...
...unproductive. As Britain liquidated its imperial holdings, its diplomacy largely lost the ability to influence and aid U.S. policy. Britain's failure to win admission to Europe's thriving Common Market only underlined its role, in the harsh words of one American, as "that butterfly content to flutter pathetically on the periphery of the world." In Europe, West Germany became a far more important U.S. partner; in Asia, Japan...