Word: ratings
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Dates: during 1950-1959
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BOND INTEREST. Ike warned of "grave consequences" if Congress fails to heed his request for cancellation of interest-rate ceilings on long-term U.S. Government bonds so that the Treasury can float long-term bond issues and shake free of its present instability-fostering reliance on short-term bonds (see BUSINESS...
...world's wealthiest nation is booming at such a solid rate that the very measure of wealth-money-is harder to come by than in many months...
...turn was applied by the House Ways & Means Committee, which voted to kill a bill giving the President authority to raise the interest-rate ceiling on long-term Government bonds above the present 4½. This will force the Government to do more of its financing through short-term borrowing (under five years), on which there is no interest ceiling. Result: the Treasury will have to compete with consumers and small businessmen for short-term funds, thus placing pressure on fhe money market, forcing up short-term interest rates...
...Treasury must refinance $34 billion in the next twelve months and come to the market each week with $1,000,000,000 or more in bill offerings. Last week the interest rate that it has to pay on short-term (gi-day) bills rose to 3.4%, the highest since the fall of 1957; it may go up to 4%. What the Treasury fears most is that its dependence on short-term financing will force yields on short-term paper above yields on long-term bonds, thus attracting many investors who might ordinarily put their money in long-term securities...
...rose $585 million in the first six months this year to $34.6 billion -but the growth during the same period last year was $1.3 billion. Instead of putting and keeping their money in savings accounts, people are attracted by higher returns in the stock market or Government bonds. The rate of growth of time deposits has been falling off because corporations, state and local governments, and foreign depositors can now get nearly 3½% on a 91-day Treasury bill v. 3% on time deposits...