Word: similarly
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
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...
...Many of those investments have lost money. The preferred shares the government purchased don't trade, but many of the Treasury-assisted banks already have existing preferred shares that do. And preferred-share experts say the stock that was issued to the government would likely carry similar prices to the company's existing offerings. What's more, the government has the right to trade its shares whenever it wants. If it were to do that now, it would surely be out taxpayer money...
...instance, the government completed its initial investment of $25 billion in Citigroup in late October. Back then, a preferred share similar in type to those purchased by the government was trading at $15.60. Since then, the shares have fallen 12%, to a recent $13.67. To figure out the total return of Treasury's portfolio, TIME compared the returns of an index that tracks financial preferred shares with the dates on which Treasury made its investments. All told, in about six weeks the Treasury Department has lost an estimated $16 billion, or about 10% of the money invested...
...Smith’s targets for reductions came only a few days after officials at Harvard Medical School confirmed that they were taking similar action, asking departments to plan for 10 percent decreases in their budgets, but acknowledging that actual cuts were unlikely to reach those levels...
...avoid similar difficulties yesterday, Smith literally took matters into his own hands, reverting to pen and paper to conduct his presentation on University finances. He also had the visual under control...