Word: munis
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Dates: during 1990-1999
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...HAPPY MUNI YEAR Low inflation and high yields are making municipal bonds an attractive buy. The yield on benchmark munis reached 5.99% a few weeks ago, a peak for the year. Those returns have slipped a bit since, but munis still offer relatively high rates. They are yielding more than 90% of a comparable Treasury bond, the result in part of an abundant supply. "Historically, muni yields are not this close to Treasury yields with the same maturity," says Mark Tenenhaus, director of municipal research for Morgan Stanley Dean Witter. The kicker is that the muni bonds are tax free...
Along with "The Jack Benny Show" and "Amos 'N' Andy," programming is strengthened by several dramas anchored by the performances of Jessica Tandy, Paul Muni, Raymond Massie and Eva Le Galliene. Variety shows quickly gained prominence, led by the performance of Milton Berle on NBC's "Texaco Star Theatre." Berle utilizes sight gags very successfully. As The New York Times noted, "Television no longer threatened to bring theater to the home: it delivered...
...have had a tough year in the stock market -- like me. A couple of my stocks have gone down, and it would cost my brokerage firm, Smith Barney, a lot less than $130 million to maintain a positive working relationship with me. My list of downers includes a muni bond fund that I bought in anticipation of low inflation and lower interest rates, a gold fund I bought in anticipation of high inflation and higher interest rates, two China funds mentioned in an earlier column, a Turkey fund I bought because international expert Barton Biggs was quoted in the press...