Word: investor
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Dates: during 2000-2009
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...raise again," says TIME senior economics reporter Bernard Baumohl. "But the markets can always find a reason for uncertainty." Indeed, as more and more readings indicate that Cap'n Greenspan's economy is touching down softly and inflation-free, the narrower the range of possibilities in those feverish little investor brains. He could stand pat. He could hike by a quarter-point this month so as to beat election-season, when coaxing up unemployment for the good of the country gets politically tricky. But that'd be about it, and if all's quiet on the Consumer Price Index front...
...nothing beyond. That's not an all-clear sign, but the bond market's configuration today offers a classic reading for the slower growth Greenspan wants dead ahead. Normally, longer-term maturities on interest-paying investments like the 10-year Treasury note carry the highest yields because an investor assumes more risk over that extended period before getting back his principal. Now, however, the yield on 10-year Treasuries is around 6.5%; on two-year Treasuries, about 6.8%. When the "yield curve" inverts like this, bond traders are betting that short-term rates are high enough to cool the economy...
...government reform and privatization that will cost a bundle to implement. But Bush is trying to live up to his self-applied "reformer with results" label and accommodate the ghost of John McCain, who's with Bush on this one. W. is also counting on the emergence of an "investor class" in November, a new generation of voters who have confidence in their own investing talents and weren't counting on Social Security being around much longer anyway. The question is, will they come out to vote on this issue...
Moved PermanentlyMoved PermanentlyFortune Investor DataNot that inflation is actually apparent; witness Tuesday's pre-opening announcement that consumer prices were unchanged in April. "The markets are taking it on faith," says Baumohl, that Greenspan is right about lurking price pressures, and a half-point hike is seen as welcome proof of his vigilance. "Fifty basis points means the Fed is in charge again and inflation is under control," he says. "The markets have already discounted it. They're happy about it. Anything less would have be met with disappointment." A half-percent increase also raises the hope that this hike...
...company's largest stockholder is Edward ("Rusty") Rose III of Dallas. Rose owns 11% of Ace's outstanding stock, according to documents filed with the U.S. Securities and Exchange Commission. Rose is the millionaire Dallas investor who helped George W. Bush turn a $600,000 investment in the Texas Rangers baseball team into $15 million--a 2,400% profit. Rose is one of the Bush Pioneers, the elite group of fund raisers who each promised to raise $100,000 for the Texas Governor's presidential race...