Word: normalization
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Dates: during 2000-2009
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According to Liew, that's because the monetary-policy prescriptions offered by central banks have thus far done little to cure the constipated credit markets that are stalling the global economy. Under normal circumstances, interest-rate cuts by central banks would promote interbank lending. But Wednesday's coordinated rate cuts in the U.S., Europe and Asia have failed to restore lenders' confidence. The London Interbank Offered Rate, the benchmark for short-term interbank lending rates, actually rose to 4.75% Thursday, its highest level of the year. In Hong Kong, interbank lending rates have doubled in the past month. Banks remain...
...alumni relations at the Business School. She said that the Business School began advertising to the alumni 18 months ago. And despite the market turmoil, Goff said that she wasn’t worried about a dropoff in attendance. “We’ve seen the normal level of dropoff that see for an event of this size, but nothing more than that,” Goff said. “We will have folks like Niall Ferguson and Larry Summers who are in a unique position to speak about the crisis.” Business School professor...
...work and whose evidence we could estimate accurately in real life,” Ünver said. “We came up with college bowls because there is a matching system in place, even though we wouldn’t consider this to be a normal market.” According to Roth, prior to 1992, teams would get bowl bids before the season was over, thus resulting in inefficient matchups. “Lots of markets unravel over time, with participants making moves too early,” Roth said. “For example, the Sugar...
...make payroll and keep the lights on. And even those municipalities that do use short-term notes may succeed in selling them in the end. On Oct. 8, Massachusetts finally sold its $750 million worth after hiring Goldman Sachs and Citigroup to find buyers, instead of running a normal auction. California is going to try to sell $4 billion worth of securities next week...
...they would have before the credit crunch began in the summer of 2007, says Matt Fabian, managing director at Municipal Market Advisors. Ohio, for instance, is paying almost 1 percentage point more in yield for 20-year bonds than it did a year ago. "Maybe this is the new normal," says Fabian...