Word: marketeers
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Dates: during 1930-1939
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After one more downward swoop that carried the latest Treasury issue nearly two points below par, the Government bond market leveled off last week for the first time since the decline began early last month (TIME, March 22). Widely regarded as marking the end of the long bull market in bonds and the start of an inflationary stage in Recovery, the drop in Governments was followed by the shelving of half a dozen corporate bond offerings and a general tightening of sensitive short-term money rates. By any normal standard money was still ridiculously cheap but the up trend...
...with the greatest of ease lower tariffs on Japanese goods. Rather than permit this, the U. S. would probably find it highly advisable to make a trade agreement that would cancel prospective U. S. tariffs against Philippine goods in order to keep from losing the Philippine market to Japan...
...resounding statement "to correct erroneous interpretations" of his ideas on how to control inflation. It is no secret that Chairman Eccles is alarmed by the current trend of Recovery, particularly the dizzy rise in commodity prices. And after a visit to the White House last fortnight, the Government bond market broke wide-open (TIME, March 22). Hence, the natural assumption last week was that the Reserve Board might be ready to let interest rates seek a higher level. Said Mr. Eccles in correction...
...were impressionable financiers much encouraged by General Hugh Johnson's wry query in his syndicated column: "Who anointed the Secretary of Agriculture as an economic Isaiah? And where does Uncle Danny Roper get off as a synthetic and official Leonard Ayres or Roger Babson? And why should all markets reflect words of theirs in a marked recession?" Meantime, neither Chairman Eccles' reiteration of his easy money aims nor his courageous call for taxes and debt retirement checked the cracking prices of Government bonds, which despite more determined Treasury support dropped to new lows for the year...
Presiding at the I. R. R. C. meeting in London last week, as he did fortnight ago at the International Tin Committee meeting which lifted tin production quotas to 110% of 1929 levels without abating a mad metal market (TIME, March 22), was precise Sir John Campbell, economic and financial adviser to the British Colonial Office. Whatever Sir John's first considerations were as he walked into the highceilinged committee room in Brettenham House next to Waterloo Bridge, the problem at hand was essentially one of trying to keep skyrocketing rubber prices from knobbling the British armament race without...