Word: yielding
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Dates: during 1990-1999
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...will not run any farther. The great majority are peasants who have no skill at politics but a great capacity for hardship when they are certain of their course. They are Serbian true believers. No matter what the politicians order, no matter what the world thinks, they will not yield these trenches, this town...
...jump in interest rates would also clobber the bond market, to which mutual-fund buyers have flocked as well. Bonds took off on a powerful rally last November that has pushed long-term yields to their lowest level in 20 years (the higher a bond's price, the lower its interest yield). A spurt in interest rates would have the opposite effect, halting the boom and sending bond prices spiraling down...
...bears further point out that stocks are returning little to investors in the way of dividends. On average, dividend payouts currently equal just 2.8% of stock prices, the lowest yield since August 1987. "The market has rarely been this high in terms of price to earnings or dividends," says James Grant, an investment-magazine editor who predicts a break in prices. "The eternal paradox is that people will buy more cars or canned goods when the price is down, but they seem to buy more stocks when the price...
...noises. Just don't stand up, we are told, lest you break the Land Rover silhouette they're used to seeing. I am glued to my seat.) What has me worried -- and excited -- is the South African utility bonds I've just bought. I am excited by their 20% yield, worried about South Africa's future and about the morality of investing there...
...what about my South African Eskom 13.5% bonds? They actually yield more than 13.5%, because you get to buy them with the "financial rand," which sells at a discount, but get your interest in "commercial rands," which do not. There are risks, such as a collapse in the value of the rand or nationalization of private businesses and repudiation of their debt. But I'm an optimist. Most U.S. brokers won't take orders for South African investments. (One that will, in amounts of $25,000 or more: Noyes Partners, in New York City.) Personally, I see little moral harm...