Word: indexes
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Dates: during 1980-1989
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With social unrest growing, the Brazilian Congress seems increasingly likely to reject a presidential decree that, beginning last month, limited cost-of-living wage hikes for all Brazilian workers to 80% of increases in the consumer price index. The IMF had demanded such action as a precondition for further loans. Without such a law, the battle against inflation seems doomed. So far this year the price of bread has gone up 85%, rice 151%, beans 369% and potatoes 498%. Indeed, it may take another Brazilian economic miracle like the one in the 1970s for the country to reduce inflation...
...took Manet, in the Olympia, to paint a whore as her own person, staring back at the voyeurs, restricting the offer to a transaction. Here, as in paintings of women who were not models (like Berthe Morisot, whose shadowed and inward-turning beau ty Manet could portray as the index of thought), one sees him inventing the image of the "modern" woman. It was there to be seen; but that is true of any prophecy...
...company. So does Charles Stevenson, who operates his own New York-based money management firm. Venturesome traders across the U.S. are turning an esoteric-sounding new way of investing money into one of the hottest and fastest-growing ways to cash in on the bull market: stock index futures contracts. They are akin to commodities contracts, but on nothing so tangible as pork bellies or bushels of wheat. More than 1 million of the contracts changed hands in July, and their daily value at times reached $5 billion. Stock index futures, introduced in February 1982 and now traded on exchanges...
...doctors, dentists and big institutions that have been dealing in them." Exchanges, meanwhile, have been moving to make index trading more affordable. They offer a rapidly growing array of relatively inexpensive options to buy or sell contracts, for example, and thus let investors limit their risks to what an option costs. Some can be bought for less than $1,000. In addition, the Chicago Mercantile Exchange last month launched a contract based on a Standard & Poor's roundup of 100 stocks that can be invested in for about $3,000. It is already a brisk seller...
...unions seemed to be far apart on terms for a new three-year contract. The company offered raises of up to 3.5% in the first year, plus cost of living increases over the rest of the contract that would amount to 75% of the rise in the consumer price index. But Communications Workers President Glenn Watts, representing some 525,000 of the strikers, declared that his union wanted "at least double" what the company was putting on the table...