Word: stocked
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Dates: during 1960-1969
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Ordinarily, talk about higher taxes is not very cheery. But U.S. stock and bond investors last week seemed to brighten up just when word got out that the Johnson Administration was seriously considering tax increases as an adjunct to tight money in the fight against inflation. Both stock and bond prices improved, but then at week's end, the stock market lost about a third of the week's gains, partly because the impression grew that Washington might not act swiftly...
...eleventh consecutive week, the New York Stock Exchange opened with a Monday tinted blue: the Dow-Jones industrial average dropped 13.53 points to 767.03, its lowest level since Jan. 2, 1964. Next day, Treasury Under Secretary Joseph Barr told a House committee that the Government "can't rely on monetary policy much more," must boost taxes or cut spending "if we have to do more" to curb the exuberant U.S. economy...
Bond traders considered that a welcome sedation. Measured by the amount of new funds it consumes annually, the bond market is 20 times the size of the nation's stock markets. Expansion-minded businessmen, hungry for more loans than they can get from banks, have lately deluged bond dealers with offerings. Corporations have increased their publicly floated bond borrowing from $3.7 billion in the first eight months of 1965 to $5.5 billion so far this year. Such corporate issues rose to an alltime peak of $1.34 billion last month, close to four times the level of August a year...
...week's end, more than at any time in the recent past, the nation's stock and bond men seemed to be watching the baton of the maestro in the White House...
Last Feb. 9, prices on the New York Stock Exchange, as measured by the Dow-Jones industrial index, hit an alltime high. Ever since, the market has generally been sloughing off, with blue chips leading glamour stocks on the way down. Yet some stocks have more than held their own since Feb. S. A sampler of losers and gainers since the day of the historic high...