Word: upturning
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...invested heavily in high-yield, high-risk junk bonds and volatile mortgage-backed securities, which provide greater profits at lower cost than traditional home mortgages. That kind of speculative strategy works well when interest rates are declining, but it could be disastrous in the event of an interest-rate upturn, which is now occurring. In all, thrifts have absorbed more than 25% of the $100 billion in junk bonds currently afloat...
...Price's narrower vision is starting to produce what Control Data needs most at the moment: profits. The company is now more focused on what it knows best, computers, just in time to take advantage of an upturn in that business. Indeed, analysts expect Control Data to show a profit as high as $80 million for 1987, compared with a loss of $264.5 million last year...
Detroit's Big Three -- General Motors, Ford and Chrysler -- clearly feel the competition. So far this year, the companies have sold a total of 4.9 million autos, a 3% decline from 1985. In the past few weeks Ford has engineered a sharp sales upturn, thanks partly to the sudden popularity of its futuristically styled Taurus and Sable vehicles. But GM has a troublesome surplus of more than 1 million unsold 1986-model cars and trucks. In a bid to shrink its swollen inventory, GM late last week postponed the roll-out of its 1987 models, from Sept...
Reaction from white moderates was more enthusiastic. Colin Eglin, leader of the opposition Progressive Federal Party, predicted an economic upturn for the country when it became "free from the restrictions of the past...and imbued with a new positive spirit...
...truth is that Peres is not at all averse to a government split-up, under the right circumstances. Encouraged by his peace efforts and an apparent upturn in the ravaged Israeli economy, the Labor leader is increasingly eager to face elections, especially since recent polls show his party well ahead of Likud, 38% to 24%. Whether or not there is a genuine start to peace talks between Israel and Jordan in the next few weeks or months, Peres will be sorely tempted to find a way to encourage his coalition partner to topple the government and force elections. Otherwise, under...