Edith Wharton's The Age of Innocence earned her the first Pulitzer Prize for literature awarded to a woman. Published in 1920 but set in 1870s New York, the novel explores the labyrinth of high society in America's Gilded Age. The novel depicts the doomed marriage of Newland Archer and May Welland.
You Sell Your Bond Before It Matures & Interest Rates have gone down. You buy a 10 year U.S. Treasury Note with a face value of $1,000 and an interest rate of 4.26%. If you sell your bond before it matures and interest rates have dropped 2%, you will receive $1,118.54 (plus any interest paid before the sale).
And we know how indebted the system has become. People forget that the infamous 1987 stock market crash followed a surge in bond rates. In the months leading up to the October crash, the interest rate on 10-year Treasurys jumped about 45%, compared with the 80% hike weâve just seen. I asked my bond market guru over lunch what the risks were that the latest surge in interest rates could precipitate an â87-style crash.