Word: stockly
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Dates: during 1950-1959
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Some bears counter that the reverse spread between stock and bond yields (see chart) will cause a shift in money from stocks to bonds. They argue that in the past, when bond yields have far exceeded those of stocks, the market has tumbled. But investors in today's market have shown little interest in getting highly taxed dividends; most are seeking capital gains, which are not only lower-taxed but are a hedge against inflation. Those who have shifted over the past year have had heavy losses, because prices of bonds have fallen-although their yields have risen accordingly...
...Line. A decade ago, Britain had 45 first-class plane-and enginemakers. Now there are 30. Companies are dropping out because the industry's capacity is far higher than the demand for planes. There are so few orders that major planemakers are building for stock-putting together planes and praying that they will be sold one day. A buyer can get delivery of a turboprop Viscount or Britannia in two to three months, v. twelve months for a U.S. Lockheed Electra...
Uncertainty over settlement of the steel strike and tightening money last week alarmed many an investor, and the stock market suffered a sharp selloff. The Dow Jones industrial average dropped 9.90 points to 645.90, lowest since June 29. then rallied at week's end to close...
...About Mutuals. The boom in stock ownership in Britain was reflected in many a nation around the world, showed a profound change in the savings habits of people with small incomes. Before, if they saved at all, they put their money under the mattress, or in government securities or postal savings. Today, millions who once looked on stock ownership as the pastime of the rich, and stock exchanges as sinister cabals against the common man, are eagerly investing in capitalism. One of the easiest ways, as in the U.S., is through mutual funds...
...swift spread of stock ownership is even more striking on the Continent. In West Germany, the Adenauer government is plowing ahead with its plan to "reprivatize" a $1 billion industrial empire inherited from the Nazis. Last spring the government sold the giant Preussag mining combine to 216,000 new German stockholders limited to annual incomes of $3,800 or less. In one sweep of a pen, the total number of German stockholders was increased by a third, to around 800,000. Determined to have a competitive private-enterprise economy, the government is now planning to sell off the great Volkswagen...