Word: speakerin
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...confidence gave the bond market the aspect of a fierce pagan idol that can never be appeased. No sooner does the market receive one form of tribute than it finds fresh problems to worry about. Among other things, investors saw a new threat of inflation in promises by House Speakerin-waiting Newt Gingrich and other Republicans to cut taxes next year without any credible program for restoring lost revenues. "Tax cuts are not always good for the bond market,"said Joseph Carballeira, the head of U.S government- securities trading at Smith Barney. "Initially, there was a sense of optimism when...
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