Word: indexers
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Dates: during 1980-1989
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...Brazil's bulls to a halt last week after several brokerage houses discovered that $31 million of his checks had bounced on them. To avoid a bearish stampede, the Rio and Sao Paulo markets were forced to close last Monday. When trading resumed the next day, the benchmark I.B.V. index plunged 9% and ended the week down 32%. Nahas is a past master of shady finance: three years ago the U.S. Government fined him $250,000 for his role in manipulating silver prices...
...Amex was offering to charge my card anywhere from $50 to $3,000 a month, at my option, and to pay me interest on my monthly contributions at a 12% "introductory rate" through June of next year. Thereafter the rate would be "set above a nationally recognized interest index plus 1.5%." I was all set to sign up, when I noticed...
...come-on is trivial over the long pull; it is designed to cloud your judgment. The true rate on this deal is the "nationally recognized interest index plus 1.5%" that Amex talks about. But a footnote reveals this to be an index of short-term, tax-free bonds, the lowest-yielding animals...
Such forebodings have caused Hong Kong to react sharply to each twist and turn in the power struggle next door. The Hang Seng index, the main indicator of value of the Hong Kong Stock Exchange, swung wildly throughout the week. After dropping nearly 11% on Monday, the index rose 9.3% the next day on signs that the Chinese crisis might be easing. But the continued unrest in China led to further whipsawing that left the index at 2765.67 when trading ended Friday, down a substantial 12% for the week...
...push the U.S. currency down. Traders continued to snap up dollars after Washington reported that, with exports up 7.4%, the U.S. trade deficit narrowed to $8.86 billion in March, down from $9.82 billion the previous month. A day later investors shrugged off the news that the Consumer Price Index rose a sharp 0.7% in April because the gain reflected a record 11.4% surge in gasoline prices that is not expected to recur...