Word: marketed
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Dates: during 2000-2009
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...when China linked its currency to the dollar in the early 1990s, it was out not to create trade surpluses but to carve out a bit of stability in turbulent global currency markets. During the emerging-market currency crises of 1997 and 1998, China's success in keeping the yuan fixed at 8.3 yuan to the dollar was applauded in the West as a major contribution to averting financial chaos. Since 2005, China has been willing to allow the yuan to appreciate a bit (the current exchange rate is 6.8 yuan to the dollar). It just hasn't been willing...
...People originally said it would eliminate the issuance of municipal bonds," says John Cummings, who is head of muni-bond investments at money-management firm PIMCO. "Instead they have stabilized the market and helped to create jobs." (See the top 10 financial-crisis buzzwords...
...biggest thing to hit the municipal-bond market in a generation," says Amy Resnick, the editor in chief of The Bond Buyer, which tracks the muni market. "It's clearly been a success as a means of stimulating the economy...
...little over a year ago, the credit crisis caused the municipal-bond market to grind to a halt. Shell-shocked investors pulled back from even munis, which are normally considered a relatively safe bet. Bond yields soared. Local governments were forced to delay raising money. And auctions of short-term variable-rate muni securities failed. (Read "Five Painless Ways to Cut Expenses...
...paying 3.7% when they issue a bond, down from as high as 4.5% in January, before the BABs program was announced, according to Barclays Capital. Some of the drop in yields reflects the improvement in the economy in general, and the easing of the credit crunch. But muni-bond-market observers say BABs have played an important role as well...