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While the Treasury auction grabbed headlines, corporate bonds are doing equally amazing things: the average yield on lower-quality investment-grade corporate bonds - triple-B rated - is hovering around 10%, an unusually rich 7.5-percentage-point spread over Treasury bonds of similar maturity. (That spread has tripled over the past year.) Or consider junk bonds, as measured by Merrill Lynch's High Yield bond index, which yield a jaw-dropping 22%. Of course, junk bonds come from the riskiest borrowers, and a deep recession could drive up the default rate among those companies. But current lofty yields imply investor expectations...
...hinted that vitamins may protect against prostate cancer (as well as other cancers), but the data were conflicting. In a trial involving 29,000 Finnish subjects in which researchers tested whether vitamin E could reduce lung cancer in smokers, those taking the supplements did not enjoy a lower rate of lung cancer but did develop 34% fewer cases of prostate cancer compared to controls. In the same study, subjects taking supplements that contained a form of selenium also showed a 63% lower risk of developing prostate cancer. But a separate trial of 7,000 heart patients found that vitamin...
...Burns:The toll here is 96,000 children under 20 each year - or 263 per day. Infants are at the greatest risk, and kids between 10 and 14 are at the lowest. The rate rises again for kids 15 to 19, perhaps because of greater access to fireworks, gasoline and cooking materials. Once again, poorer countries are hit harder, with a rate 11 times higher than that of higher-income countries. In wealthier parts of the world, it's smoke inhalation, not the flames themselves, that causes the most deaths. For reasons not entirely clear, burns are the only type...
...were at best a "temporary solution," not the answer to climate change. A new study by the National Center for Atmospheric Research and the University of Colorado found that there was little evidence that developing nations would ever be able to afford to reduce their carbon emissions at the rate scientists believe is needed to avert dangerous climate change. (Rich nations are another matter, but it is developing nations like China and India that will be responsible for the bulk of future carbon emissions.) The gap between the world's ambitious goals to cut carbon emissions in half by midcentury...
That’s not to say Harvard should be taxed at standard corporate tax rates and its funds be deposited into the government’s general accounts. One good compromise would tax the endowment at a lenient rate and use the funding exclusively for public higher education. Such a program would redirect a sliver Harvard’s income in a way that would still, in Faust’s words, “enable students and faculty of both today and tomorrow to search for new knowledge...