Is tight money finally beginning to ease? Last week the fact that the Treasury's twelve-year bond issue was oversubscribed nine times was a clear sign to some Wall Streeters that it is. To the surprise of the Treasury, there were $4.6 billion worth of takers for the $500 million in long-term bonds, with the result that large investors had to be rationed to 10% of their requests. Only three months ago former Treasury Secretary George Humphrey told the Senate Finance Committee that he doubted whether the Government could sell a long-term bond. Having done so, and at a...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!