Treasury Yields Hit Peak Since August With New Bills Sold
The government sold 12.4 billion in short term securities with 6.2 billion in three month T bills at 8.73 percent and 6.2 billion in six month bills at 8.83 percent. New yields mark the highest since August 9 1982. Banks and S&Ls face higher rates on certificates, while Martin Marietta plans a 280 million stock purchase from Allied to regain independence. Gold and currency markets show mixed changes as Barclays and other banks cut base lending rates to 9.5 percent after Thatcher victory.
MENTIONED IN THIS ARTICLE
Treasury
Savings and Loan Associations
S&ls
Martin Marietta Corp
Allied Corp
Marietta
Bendix Corp
Martin Marietta
Bendix
Allied
Securities and Exchange Commission
Britain
Barclays Bank
National Westminster
Midlands
Lloyds Banks
Bank of England
Margaret Thatcher
Bank Customer Rates Vary by Institution
The document notes that customer rates differ across banks and that the rates shown are approximate. It highlights that actual rates depend on the issuing bank and individual customer terms.
Consumer credit rise signals stronger economic confidence
April shows another solid gain in consumer borrowing with a notable uptick in shopping and credit use, while business inventories rise modestly. The combined data point to sustained demand and cautious expansion across households and firms.
Consumer credit gains signal early recovery trends
The Federal Reserve reported April installment credit rose 2.27 billion dollars, marking a second straight monthly gain above 2 billion as consumers buy cars and use revolving accounts. Inventories rose 2.6 billion, or 0.5 percent, the largest upturn in a year, with analysts noting production stepping up to meet demand and a broadly improving economy.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Commerce Department
Federal Reserve
Fed
Thomas Thomson
Crocker National Bank
San Francisco
Thomson
Allen Gutheim
Wharton Econometrics
Dole backs Volcker for another Fed term
Sen Robert Dole praised Paul Volcker for taming inflation and endorsed a possible Reagan reappointment as Fed chair when Volcker's term ends August 5. Dole gave Volcker an A-plus for reducing inflation and constraining money and credit despite high rates linked to the 1981-82 recession.
MENTIONED IN THIS ARTICLE
Robert Dole
Reagan
Paul Volcker
Federal Reserve Board
Volcker
Dole
Kansas Republic
Senate Finance Committee
New York Financial Writers Association
Paul Valcker
Carter
Federal Reserve
Home computer stocks slide amid TI loss forecast
Texas Instruments led a broad fall in home computer stocks after warning it could lose 100 million in the second quarter. Tandy Coleco and Commodore also fell as price competition and bloated inventories pressured profits. Results echoed Atari’s slump last year as retailers fear another sales dip.
MENTIONED IN THIS ARTICLE
Texas Instruments Corp
Texas Instruments
New York Stock Exchange
Nyse
Tandy Corp
Radio Shack
Coleco Industries Inc
Commodore International Ltd
Commodore
Tandy
Coleco
Atari Inc
Warner Communications Inc
Wall Street
Warner
Atari
Warner Communications
Michele $. Preston
Burger King Switches to Pepsi Across U S Outlets
Burger King Corp will switch to Pepsi-Cola products in 3,200 U S restaurants from Coca-Cola. The move, the largest soft drink changeover for a hamburger chain in years, starts in July with full rollout by September including Diet Pepsi and Mountain Dew. Campbell calls it an expansion of a long term relationship. Coca Cola downplays impact saying fountain business remains healthy and goals unchanged.
MENTIONED IN THIS ARTICLE
Burger King Corp
Pepsi-Cola Co
U.S
Coca-Cola
Burger King
PepsiCo Inc
J. Jeffrey Campbell
Diet Pepsi
Mountain Dew
Campbell
Pepsi
Kiernan steers Norstar toward national banker status
Norstar Bancorp under Peter D. Kiernan has expanded assets since 1975 and aims for the top 30 U.S. banks with about 6.5 billion in assets. The holding company plans acquisitions like Security New York State Corp while centralizing operations across its nine banks. Kiernan, a Williams College graduate, treats the group as a catalytic force blending banks to profits, with interstate banking changes viewed as hedged bets.
MENTIONED IN THIS ARTICLE
Norstar Bancorp
Norstar
Peter D. Kiernan
Kiernan
New York State Corp
Albany
Northeast Bankshare Association
Portland
Maine
Business Week
New York State
Williams College
Mohawk
Newtonville
State Bank of Albany
Liberty National Bank
Kiersan
Also Mentioned on This Page
London
Zurich
Hong Kong
New York
Handy & Harman
Asondjfmamj
Chicago
Tabung Chan
Board of Gover
Sen
AP Laterphin
Senator Dole
Tony Tortorici
Coca-Cola Co
Atlanta
Norstar Bankcorp
Kierran
Bank
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