Word: traders
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...wonder that at 8:30 a.m. Washington time last Friday, virtually every money manager and trader was intently watching a TV, a computer terminal or a wire-service ticker. When the fateful figure at last flashed across the screens, it was another shocker -- but this time a good one. The Government announced that the November deficit was $13.2 billion, a stunning 25% decline from October's record $17.6 billion shortfall and the best monthly trade showing since the $13 billion gap in April. Exports surged 9% from October, to $23.8 billion, as imports fell 6%, to $37 billion. Inflation numbers...
...Currency Trader Randall Holland, the first working day of 1988 started last Monday with an urgent 2 a.m. phone call from Tokyo. Jolted out of bed, Holland, who works for Wall Street's Donaldson, Lufkin & Jenrette, listened groggily as an excited colleague in Japan reported that the U.S. dollar was moving in a sharp and startling new direction: upward. Skeptical of the currency's mysterious strength, Holland gave orders to sell part of the firm's dollar holdings, then went back to sleep. At 4 a.m. the phone jangled again. This time it was a London colleague calling to report...
...flamboyant than usual. The Fed, which generally makes orders in $10 million batches, was trading marks for dollars in king-size packages of $25 million. Normally the Fed would carry out such transactions stealthily. But last week a Fed official reportedly went so far as to encourage a trader at a major bank to talk about the Government's big move in a TV interview...
...problem started when the Government announced that the U.S. unemployment rate had fallen from 5.9% in November to 5.8% in December, its lowest level since 1979. To most people, that sounds like good news, but nobody has ever accused Wall Streeters of thinking like most people. To a bond trader, lower unemployment means faster growth, more inflation and higher interest rates. So bond prices slumped, and that triggered a drop in stocks. Investors were also concerned because the dollar started dipping again on Friday and because they feared that Government figures on the mammoth U.S. trade deficit due for release...
After 13 months of anticipation and delays, Wall Street's most spectacular speculator -- and insider trader -- finally heard his fate. Hands clutched behind his back, Ivan Boesky, 50, listened pensively while U.S. District Court Judge Morris Lasker told a packed courtroom in Manhattan, "Criminal behavior such as Boesky's cannot go unchecked. Its seriousness was too substantial merely to forgive and to forget." With that the judge sentenced the onetime superstar investor to three years in prison for his role in the largest insider-trading scandal in history...