Business & Finance: Foreign Bonds

In the years immediately following the War, credit in the U. S. was none too plentiful and U. S. investors were unfamiliar with foreign loans. As a result, the foreign bond issues brought out during this period bore, as a rule, very high coupon rates.

Recent episodes in the bond market have clearly shown that this abnormal situation is changing, probably for good. Credit is now very plentiful in this country, and underwriting houses are actively bidding for new Government flotations, so that their coupon rates and yields are falling rapidly. Moreover, in many...

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