Bond prices have apparently reached their peak, and banks are steadily liquidating their holdings in preparation of rising interest rates and lower bond prices this fall.
Just as Wall Street began to hesitate over a possible rise in the New York Reserve rate, however, the bold rate-cut of the Bank of England (see below) lent encouragement. In the face of this reduction, an advance in the Reserve rate is thought quite unlikely.
As the summer passes, the prospects for higher prices of railway shares brighten. For some months, while 'rails" have been practically...
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