Word: lowerator
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Dates: during 2000-2009
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...agreement - think of it as a financial trade - the U.S. would buy an option to require China to lower its emissions below a certain agreed level. At the same time, Beijing would take out what amounts to an insurance policy to establish a minimum amount that Washington would pay Beijing if or when the U.S. exercised its option. The cost of Beijing's insurance policy and the cost to the U.S. of exercising its option on China's emissions levels would be set at roughly the same price...
Right now the interest rate on a 10-year Treasury bond is about 3.5%. That could go lower - in fact, it did go lower at the height of the panic last fall, to just above 2%. But the likeliest future path for Treasury yields, Atteberry figures - on the basis of history and the fact that rates have been kept low this year by Federal Reserve purchases, investor demand and other factors - is up. If you own a 10-year Treasury bond yielding 3.5%, interest rates rising to 4% or 5% or higher mean your bond (with its rate stuck...
Atteberry is hoping to navigate the minefield ahead by holding only bonds that come due soon, which are less sensitive to changes in interest rates (but also have a lower yield than longer-dated bonds). He may ask FPA New Income's board for permission to increase the fund's limit on foreign bond holdings from its current 10%. And he has positive things to say about the inflation-indexed bonds that Treasury has issued since 1997, although he doesn't think they're a particularly good deal...
...small, fifth-floor walk-up on the Lower East Side of New York City, we, along with singer Mary Travers, explored the musical boundaries of a nursery rhyme, "Mary Had a Little Lamb," in search of a vocal blend. What we--the members of the folk trio Peter, Paul and Mary--found instead was rapport, affection and a calling that lasted nearly 50 years...
...Harvard golfers, the rainy weather actually helped to keep scores lower. The greens at The Course are traditionally firm, but the rain softened things out, making for an easier hold...