Word: last
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Dates: during 1960-1969
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...style is called either Belle Époque (after turn-of-the-century coiffures), or "Oscar's hairdo" (after Designer Oscar de la Renta, who put topknots on all the models at his spring collections last month). Mr. Kenneth finds the look soft, romantic, and most important, "not terrifying to a man. To him, it looks as if it's all up there with just one pin, and he's got to think 'If only I can find it, in a matter of seconds it will all be out on the pillow...
...turmoil in U.S. financial markets. Attention has focused on its impact on the stock market, where traders are increasingly depressed by the fear that inflation, and with it tight money, will continue indefinitely. In the past three weeks the Dow-Jones industrial average has dropped almost 50 points, to last week's close of 812, barely above the year's low. Trouble is much worse in the bond and mortgage markets, the nation's primary channels for funneling savings into the construction of schools, homes, factories, stores and hospitals. Some experts wonder whether, if investors keep expecting...
...Richard Johannesen date the bear market in bonds from 1946, when high-quality corporate debentures sold at interest rates of 2.45%. But the rise in rates and the concurrent drop in bond prices have speeded up enormously since the current inflation began in 1965-and especially this year. Last week, for example, the New Jersey Turnpike Authority sold $137 million worth of bonds at a tax-free interest yield of 7%, compared with a 5⅞ yield on bonds that it had sold four months earlier. Interest rates on high-grade corporate bonds are threatening to go above...
...among others, have seriously suggested that mortgage and bond issuers may have to pay variable interest rates tied to movements in consumer prices. Some experts also expect a swing from long to short-term financing. There are signs of that happening already. Executives of Hawaiian Electric Co., for example, last month wanted to-sell $18 million worth of 30-year bonds but, after consulting with underwriters, decided instead to sell an issue maturing in only five years...
...businessmen who bet on persistent inflation are bound to lose, the bets are still being placed. Wholesale commodity prices continued to rise at an estimated 4.8% annual rate in November. The index will almost certainly move up again this month because higher prices for nickel and lead were posted last week...