Word: stockings
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Dates: during 1980-1989
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...visitors journeying to the U.S. do not hesitate to spend money. Like Americans who stocked up on Burberry trench coats, Gucci loafers and Hermes scarves in Europe back when the U.S. currency was king, tourists in the U.S. are seizing upon a host of unbeatable deals made possible by the fallen dollar. Clothing, cameras and cosmetics are among goods that are often 20% to 30% cheaper in the U.S. than back home. Sometimes the savings can be even greater. A pair of Levi's 501 jeans selling for $76 in West Germany, for example, can be bought for less than...
...other prime source of discord is the recommendation by the Brady panel that all financial trading should be supervised by one federal regulatory body, instead of two separate ones. Currently, the Securities and Exchange Commission oversees the stock markets and the Commodity Futures Trading Commission regulates the exchanges that deal in stock-index futures. "Having split regulators contributes to the confusion," contends Peter Buchanan, chief executive of Wall Street's First Boston investment firm...
...Federal Reserve, but the Chicago exchanges oppose that move on the ground that they would no longer have their own advocate. At present, the CFTC sticks up for the Chicago markets whenever the SEC tries to fence them in. Earlier this month the CFTC approved two new forms of stock-index contracts -- the first authorized since the crash -- bringing the total number to 18. The Chicago Merc hopes to get approval soon for a futures contract to be based on the Tokyo exchange's Nikkei 225 stock index...
...stock-index futures market is currently suffering from depressed volume, down some 50% on the Chicago Merc compared with May 1987, partly because several major New York investment firms have halted index-arbitrage for their own accounts. While the firms did so largely as a public relations move to calm investor fears, most of them continue to conduct program trading to satisfy customers whose money they manage. Says Max Chapman, president of Kidder, Peabody: "Speculation is not a dirty word...
DESCRIPTION: Information about New York Stock Exchange and Chicago Mercantile Exchange...