Word: yield
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Dates: during 1980-1989
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...weakened dollar has already forced up interest rates by reigniting more inflation fears. Investors are now demanding a higher return on fixed-income investments. From mid-March to the end of April, the yield on 30-year U.S. Treasury bonds jumped from 7.5% to 8.5%, a remarkably swift rise. By the end of last week, yields had surged to 8.9%, the highest level in 15 months. The Federal Reserve Board allowed rates to climb in order to prop up the dollar. Higher interest rates bolster the U.S. currency by making dollar-denominated investments more attractive to foreign investors...
...Association of Beverly Hills (assets: $9.7 billion) has earned a rate of return on capital that has ranged between 44% and 114% annually for the past four years, vs. 11% to 13% for the 500 biggest companies traded on the New York Stock Exchange. Columbia 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...
...societal impact, this could well be the breakthrough of the 1980s in the sense that the transistor was the breakthrough of the 1950s," says Alan Schriesheim, director of Argonne National Laboratory near Chicago. Indeed, scientists hardly know where to start in describing the bonanza that superconductors could yield...
...Such legislation would be likely to void any relaxation of Glass-Steagall by the Federal Reserve Board this week. But major banks fully intend to test the limits of how far they can move toward investment services. Last month, for example, Chase Manhattan introduced a deposit account with a yield tied to the stock market's performance. That measure provoked the mutual-fund industry to file a lawsuit alleging violation of Glass-Steagall. In short, the battle between investment bankers and their commercial rivals will continue to intensify, and the pressure on the beleaguered U.S. banking system will continue...
...Management, which owns 3.7 million Texaco shares. The bankruptcy filing means a projected loss of $11.1 million in annual dividend income for Delaware. Says Ofstie: "We understand the reasons why Texaco went into Chapter 11. But we're an income-oriented investment company, and Texaco doesn't have a yield anymore. That's a problem we can't ignore." As time passes, Wall Street analysts expect that big investors will steadily dump millions of Texaco shares onto the market...