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History of tennis
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Players on a roofless centre court in 2007
The game that most people call 'tennis' is the direct descendant of what is now known as real tennis or royal tennis (which continues to be played today as a separate sport with more complex rules). Most rules of the game commonly known as tennis derive from it. It is reasonable to see both sports as variations of the same game. The idea that tennis originated in the monastic cloisters in northern France in the 12th century has been largely discredited, but it is correct that in the first few centuries in which it was played, the ball was then struck with the palm of the hand; hence, the name jeu de paume ("game of the palm").[1] It was not until the 16th century that rackets came into use, and the game began to be called "tennis." It was popular in England and France, and Henry VIII of England was a big fan of the game, now referred to as real tennis.[2]
Many original tennis courts remain, including courts at Oxford, Cambridge, Falkland Palace in Fife where Mary Queen of Scots regularly played, and Hampton Court Palace. Many of the French courts were decommissioned with the terror that accompanied the French Revolution. The Tennis Court Oath (Serment du Jeu de Paume) was a pivotal event during the first days of the French Revolution. The Oath was a pledge signed by 576 of the 577 members from the Third Estate who were locked out of a meeting of the Estates-General on 20 June 1789. Any history of tennis that ignores its origins in the game that was (and is still in certain circles) known as tennis until "lawn tennis" became popular in the late nineteenth century is inaccurate.
The Davis Cup, an annual competition between men's national teams, dates to 1900.[3] The analogous competition for women's national teams, the Fed Cup, was founded as the Federation Cup in 1963 to celebrate the 50th anniversary of the founding of the International Tennis Federation, also known as the ITF.
In 1926, promoter C.C. Pyle created the first professional tennis tour with a group of American and French tennis players playing exhibition matches to paying audiences.[4][5] The most notable of these early professionals were the American Vinnie Richards and the Frenchwoman Suzanne Lenglen.[4][6] Once a player turned pro he or she could not compete in the major (amateur) tournaments.[4]
In 1968, commercial pressures and rumors of some amateurs taking money under the table led to the abandonment of this distinction, inaugurating the open era, in which all players could compete in all tournaments, and top players were able to make their living from tennis.[7] With the beginning of the open era, the establishment of an international professional tennis circuit, and revenues from the sale of television rights, tennis's popularity has spread worldwide, and the sport has shed its upper/middle-class English-speaking image[8] (although it is acknowledged that this stereotype still exists).[8][9][10]
Contents
[hide]
1 Etymology
2 Origin
2.1 Real tennis
3 Birth of lawn tennis
4 Terminology
5 Tournaments and tours of the pre-open era
5.1 Amateur Tournaments
5.1.1 The Four Majors
5.1.1.1 1877: Wimbledon
5.1.1.2 1881: U.S. Open
5.1.1.3 1891/1925: French Open
5.1.1.4 1905: Australian Open
5.1.2 The Davis Cup
5.1.3 International Tennis Federation
5.1.4 The Fed Cup
5.2 The Professional circuit
5.2.1 Pro tours
5.2.2 Pro Championships (Pro Slams)
6 Open era
6.1 National Tennis League (NTL) and World Championship Tennis (WCT)
6.2 Grand Prix circuit
6.3 Tour rivalries and the creation of the Association of Tennis Professionals (ATP)
6.4 Integration
6.5 ATP Tour
6.6 Women's professional tennis
7 Hall of Fame
8 See also
9 Notes
10 References
Etymology[edit]
Some people believe that the word "Tennis" came into use in English in the mid-13th century from Old French, via the Anglo-Norman term Tenez, which can be translated as "hold!", "receive!" or "take!", but there is no reference to this in contemporary literature and so there is no evidence of this derivation. A call from the server to his opponent indicating that he is about to serve.[11] The first known appearance of the word in English literature is by poet John Gower in his poem titled 'In Praise of Peace' dedicated to King Henry IV and composed in 1400; "Of the tenetz to winne or lese a chase, Mai no lif wite er that the bal be ronne". (Whether a chase is won or lost at tennis, Nobody can know until the ball is run).[a][13][14][15][16]
Origin[edit]
Real tennis racquets and balls. Cahusac at the Falkland Palace Royal Tennis Club.
Tennis is mentioned in literature as far back as the Middle Ages. In The Second Shepherds' Play (c. 1500) shepherds gave three gifts, including a tennis ball, to the newborn Christ. Sir Gawain, a knight of King Arthur's round table, plays tennis against a group of 17 giants in The Turke and Gowin (c. 1500).[17][18]
Real tennis[edit]
The Medieval form of tennis is termed as real tennis, a game that evolved over three centuries, from an earlier ball game played around the 12th century in France which involved hitting a ball with a bare hand and later with a glove.[19][20] By the 16th century, the glove had become a racquet, the game had moved to an enclosed playing area, and the rules had stabilized. Real tennis spread in popularity throughout royalty in Europe, reaching its peak in the 16th century.
In 1437 at the Blackfriars, Perth, the playing of tennis indirectly led to the death of King James I of Scotland, when the drain outlet, through which he hoped to escape assassins, had been blocked to prevent the loss of tennis balls.[21] James was trapped and killed.[22]
Francis I of France (1515–47) was an enthusiastic player and promoter of real tennis, building courts and encouraging play among the courtiers and commoners. His successor Henry II (1547–59) was also an excellent player and continued the royal French tradition. In 1555 an Italian priest, Antonio Scaino da Salothe, wrote the first known book about tennis, Trattato del Giuoco della Palla. Two French kings died from tennis related episodes—Louis X of a severe chill after playing and Charles VIII after hitting his head during a game.[23] King Charles IX granted a constitution to the Corporation of Tennis Professionals in 1571, creating the first pro tennis 'tour', establishing three professional levels: apprentice, associate, and master. A professional named Forbet wrote and published the first codification of the rules in 1599.[24]
Royal interest in England began with Henry V (1413–22.) Henry VIII (1509–47) made the biggest impact as a young monarch; playing the game with gusto at Hampton Court on a court he built in 1530. It is believed that his second wife Anne Boleyn was watching a game when she was arrested and that Henry was playing when news of her execution arrived. During the reign of James I (1603–25), London had 14 courts.[25]
Drawing of a Lawn Tennis court as originally designed by Major Walter Clopton Wingfield in 1874
Cover of the first edition of the book about Lawn Tennis by Walter Clopton Wingfield, published in February 1874
Tennis doubles final at 1896 Olympic Games
Real tennis is mentioned in literature by William Shakespeare who mentions "tennis balles" in Henry V (1599), when a basket of them is given to King Henry as a mockery of his youth and playfulness; the incident is also mentioned in some earlier chronicles and ballads.[26] One of the most striking early references appears in a painting by Giambattista Tiepolo entitled The Death of Hyacinth (1752–1753) in which a strung racquet and three tennis balls are depicted. The painting's theme is the mythological story of Apollo and Hyacinth, written by Ovid. Giovanni Andrea dell'Anguillara translated it into Italian in 1561 and replaced the ancient game of discus, in the original text with pallacorda or tennis, which had achieved a high status at the courts in the middle of the 16th century. Tiepolo's painting, displayed at the Museo Thyssen Bornemisza in Madrid, was ordered in 1752 by German count Wilhelm Friedrich Schaumburg Lippe, who was an avid tennis player.
The game thrived among the 17th-century nobility in France, Spain, Italy, and in the Austro-Hungarian Empire, but suffered under English Puritanism. By the Age of Napoleon, the royal families of Europe were besieged and real tennis was largely abandoned.[27] Real tennis played a minor role in the history of the French Revolution, through the Tennis Court Oath, a pledge signed by French deputies on a real tennis court, which formed a decisive early step in starting the revolution. In England, during the 18th and early 19th centuries as real tennis declined, three other racquet sports emerged: racquets, squash racquets, and lawn tennis (the modern game).
Birth of lawn tennis[edit]
Augurio Perera's house in Edgbaston, Birmingham, where he and Harry Gem first played the modern game of lawn tennis
The modern sport is tied to two separate inventions.
Between 1859 and 1865, in Birmingham, England, Major Harry Gem, a solicitor, and his friend Augurio Perera, a Spanish merchant, combined elements of the game of rackets and the Spanish ball game pelota and played it on a croquet lawn in Edgbaston.[28][29] In 1872, both men moved to Leamington Spa and in 1874, with two doctors from the Warneford Hospital, founded the world's first tennis club, the Leamington Tennis Club.[30]
In December 1873, Major Walter Clopton Wingfield designed and patented an hourglass-shaped tennis court in order to obtain a patent on his court, as a rectangular court, already in use in other versions of outdoor, lawn tennis, was unpatentable by him, and a temporary patent on his hourglass-shaped court was granted to him in February, 1874, which he never renewed when it expired in 1877. It is commonly believed, mistakenly, that Wingfield obtained a patent on the game he devised to be played on that type of court, but in fact Wingfield never applied for nor received a patent on his game, although he did obtain a copyright — but not a patent — on his rules for playing it. And, after a running series of articles and letters in the British sporting magazine The Field, and a meeting at London's Marylebone Cricket Club, the official rules of lawn tennis were promulgated by that Club in 1875, which preserved none of the aspects of the variations that Wingfield had dreamed up and called Sphairistikè (Greek: σφάίρίστική, that is, "sphere-istic," an ancient Greek adjective meaning "of or pertaining to use of a ball, globe or sphere"), which was soon corrupted to "sticky." Wingfield claimed that he had invented his version of the game for the amusement of his guests at a weekend garden party on his estate of Nantclwyd, in Llanelidan, Wales in 1874, but research has demonstrated that even his game was not likely played during that country weekend in Wales.[31][32] He had likely based his game on both the evolving sport of outdoor tennis and on real tennis. Much of modern tennis terminology also derives from this period, as Wingfield and others borrowed both the name and much of the French vocabulary of real tennis and applied them to their variations of real tennis.[33] Wingfield did patent his hourglass court [34] in 1874 but not his eight-page rule book titled "Sphairistike or Lawn Tennis",[35] but he failed in enforcing his patent.[36] In his version, the game was played on an hourglass shaped court and the net was higher (4 feet 8 inches) than it is in official lawn tennis. The service had to be made from a diamond-shaped box in the middle of one side of the court only, and the service had to bounce beyond the service line instead of in front of it. He adopted the rackets-based system of scoring where games consisted of 15 points (called 'aces').[37] None of these quirks survived the Marylebone Cricket Club's 1875 Rules of Lawn Tennis that have been official, with periodic slight modifications, ever since then. Those rules were adopted by the All England Lawn Tennis and Croquet Club for the first Lawn Tennis Championship, at Wimbledon in 1877 (the men who devised those rules were members of both clubs). Wingfield does deserve great credit for popularizing the game of lawn tennis, as he marketed, in one boxed set, all the equipment needed to play his or other versions of it, equipment that had been available previously only at several different outlets. Because of this convenience, versions of the game spread like wildfire in Britain, and by 1875 lawn tennis had virtually supplanted croquet and badminton as outdoor games for both men and women.
Mary Ewing Outerbridge played the game in Bermuda at Clermont, a house with a spacious lawn in Paget parish.[38] Innumerable histories claim that in 1874 Mary returned from Bermuda aboard the ship S.S. Canima and introduced lawn tennis to the United States,[39] setting up supposedly the first tennis court in the United States on the grounds of the Staten Island Cricket and Baseball Club, which was near where the Staten Island Ferry Terminal is today.[40] The club was founded on or about March 22, 1872. She is also mistakenly said to have played the first tennis game in the US against her sister Laura in Staten Island, New York, on an hourglass-shaped court.[40] However, all this would have been impossible, as the tennis equipment she is said to have brought back from Bermuda was not available in Bermuda until 1875, and her next trip to Bermuda, when it was available there, was in 1877. In fact, lawn tennis was first introduced in the United States on a grass court on Col. William Appleton's Estate in Nahant, Massachusetts by Dr. James Dwight ("the Father of American Lawn Tennis"), Henry Slocum, Richard Dudley Sears and Sears' half-brother Fred Sears, in 1874.
Terminology[edit]
Wingfield borrowed both the name and much of the French vocabulary of real tennis:
Tennis comes from the French tenez, the plural imperative form of the verb tenir, to hold, meaning "hold!", "receive!" or "take!", an interjection used as a call from the server to his opponent to indicate that he is about to serve.[41]
Racket derives from the Arabic rakhat, meaning the palm of the hand.[42]
Deuce comes from à deux le jeu, meaning "to both is the game" (that is, the two players have equal scores).[43]
The origin of the use of Love for zero is disputed. It is possible that it derives from "l'oeuf", the French word for "egg", representing the shape of a zero.[44][45] Another possibility is that it derives from the Dutch expression "iets voor lof doen", which means to do something for praise, implying no monetary stakes.[46]
The reason for the numbering of scores being "15", "30" and "40" is unknown. Historical sources suggest the system was originally 15, 30, 45 with the 45 simplified to 40 over time. Common theories are that it originated from the quarters of a clock, or from gambling stakes.[43]
Tournaments and tours of the pre-open era[edit]
Amateur Tournaments[edit]
The Four Majors[edit]
The four majors or Grand Slam tournaments, the four biggest competitions on the tennis circuit, are Wimbledon, the US Open, the French Open, and the Australian Open. Since the mid 1920s they became and have remained the most prestigious events in tennis.[4][47] Winning these four tournaments in the same year is called the Grand Slam (a term borrowed from bridge).[48]
1877: Wimbledon[edit]
Main article: Wimbledon, The Beginning
The Championships, Wimbledon, were founded by the All England Club in 1877 to raise money for the club.[49] The first Championships were contested by 22 men and the winner received a Silver Gilt Cup proclaiming the winner to be "The All England Lawn Tennis Club Single Handed Champion of the World".[50] The first Championships culminated a significant debate on how to standardize the rules. The following year it was recognized as the official British Championships, although it was open to international competitors. In 1884 the Ladies Singles and Gentlemen's Doubles Championships were inaugurated, followed by the Ladies and Mixed Doubles in 1913.[51]
Name
1877: The Championships
Surface
1877: Grass
Venue change
1877: Worple Road, Wimbledon
1922: Church Road, Wimbledon
1881: U.S. Open[edit]
Main article: History of U.S. Open
Tennis was first played in the U.S. on a grass court set up on the Estate of Col. William Appleton in Nahant Massachusetts by James Dwight, Richard Dudley Sears and Fred Sears in 1874.[52] In 1881, the desire to play tennis competitively led to the establishment of tennis clubs.[4]
The first American National tournament was played in 1880 at the Staten Island Cricket and Baseball Club in New York. An Englishman named Otway Woodhouse won the singles match. There was also a doubles match which was won by a local pair. There were different rules at each club. The ball in Boston was larger than the one normally used in NY. On May 21, 1881, the United States National Lawn Tennis Association (now the United States Tennis Association) was formed to standardize the rules and organize competitions.[53]
The US National Men's Singles Championship, now the US Open, was first held in 1881 at Newport, Rhode Island.[54] The U.S. National Women's Singles Championships were first held in 1887 in Philadelphia.[55]
The tournament was made officially one of the tennis 'Majors' from 1924 by the International Lawn Tennis Federation (ILTF).
Name change
1881: U.S. National Championship
1968: U.S. Open
Surface change
1881: Grass
1975: Clay Har-Tru
1978: Hard DecoTurf
Venue change (men's championship)
1881: Newport
1915: Forest Hills
1921: Germantown
1924: Forest Hills
1978: Flushing Meadows
1891/1925: French Open[edit]
Main article: History of French Open
Tennis was predominantly a sport of the English-speaking world, dominated by Great Britain and the United States.[56] It was also popular in France, where the French Open dates to 1891 as the Championat de France International de Tennis. This tournament was not recognised as a Major or Grand Slam tournament until it was opened to all nationalities in 1925.
Name change
1891: Championnat de France
1925: Championnats Internationaux de France
1928: Tournoi de Roland Garros
Surface change
1891: Clay and Sand
1909: Clay
Venue change
1891-1908: shared by Tennis Club de Paris)/Ile de Puteaux, Paris/Racing Club de France
1909: Societe Athletique de la Villa Primrose, Bordeaux
1910: Racing Club de France, Paris
1925: Stade Français, Paris
1926: Racing Club de France, Paris
1927: Stade Français, Paris
1928: Stade Roland Garros, Paris
1905: Australian Open[edit]
Main article: History of Australian Open
The Australian Open was first played in 1905 as The Australasian (Australia and New Zealand) Championships. Because of its geographic remoteness, historically, the event did not gain attendance from the top tennis players. It became one of the major tennis tournaments starting in 1924 (designated by the ILTF). In 1927, because of New Zealand tennis authorities releasing their commitments to the tournament, it became known as the Australian Championships. For most of the 1970s and the early 1980s, the event lacked participation from top ranked tennis professionals. Since its move to Melbourne Park in 1988, the Australian Open has gained the popularity of the other three majors.
Name change
1905: Australasian Championships
1927: Australian Championships
1969: Australian Open
Surface change
1905: Grass
1988: Hard Rebound Ace
2008: Hard Plexicushion
Venue change
1905: Melbourne
1906: Christchurch and alternated in Melbourne, Sydney, Adelaide, Brisbane and Perth. In 1912 at Hastings
1972: Kooyong
1988: Melbourne Park
The Davis Cup[edit]
Main article: Davis Cup
In 1898, Dwight F. Davis of the Harvard University tennis team designed a tournament format with the idea of challenging the British to a tennis showdown.[57] The first match, between the United States and Great Britain was held in Boston, Massachusetts in 1900.[58] The American team, of which Dwight Davis was a part, surprised the British by winning the first three matches. By 1905 the tournament had expanded to include Belgium, Austria, France, and Australasia, a combined team from Australia and New Zealand that competed jointly until 1913.
The tournament was initially known as the "International Lawn Tennis Challenge". It was renamed the Davis Cup following the death of Dwight Davis in 1945. The tournament has vastly expanded and, on its 100th anniversary in 1999, 130 nations competed.
International Tennis Federation[edit]
1896 Summer Olympics men's singles final
1913 also saw twelve national tennis associations agree at a Paris conference to form the International Lawn Tennis Federation (ILTF), which was renamed in 1977 as the current International Tennis Federation (ITF).[59] The rules the association promulgated in 1924 have remained remarkably stable in the ensuing ninety years, the one major change being the addition of the tie-break system designed by James Van Alen.[60]
That same year, tennis withdrew from the Olympics after the 1924 Games but returned 60 years later as a 21-and-under demonstration event in 1984. This reinstatement was credited by the efforts by the then ITF President Philippe Chatrier, ITF General Secretary David Gray and ITF Vice President Pablo Llorens, and support from IOC President Juan Antonio Samaranch. The success of the event was overwhelming and the IOC decided to reintroduce tennis as a full medal sport at Seoul in 1988.
The Fed Cup[edit]
Main article: Fed Cup
The idea of a Davis Cup-style tournament for national women's teams is surprisingly old—it was first proposed in 1919 by Hazel Hotchkiss Wightman. After she was turned down, she donated a trophy in 1923 that would be known as the Wightman Cup, awarded in an annual match between the two strongest women's tennis nations of the time, the United States and Great Britain.[61]
Wightman's original idea for a worldwide women's team tournament would bear fruit more than 40 years later in 1962, when Nell Hopman persuaded the ITF to begin sponsoring such an event. The first Federation Cup was played in 1963 as part of the ITF's 50th anniversary celebrations; it involved 16 countries and was played over one week. By the 1990s, over 70 nations competed each year, and regional qualifiers were introduced in 1992. In 1995, the ITF introduced a new Davis Cup-style format for the competition and rechristened it the Fed Cup.
The Professional circuit[edit]
In 1926, promoter C. C. Pyle established the first professional tour with a group of American and French players playing exhibition matches to paying audiences.[4][62] The most notable early professionals were American Vinnie Richards and Frenchwoman Suzanne Lenglen.[4][6] Once a player turned pro he or she could not compete in the major (amateur) tournaments.[4]
The leading professional players were under contract with a professional promoter before the Open Era who controlled their appearances. For example, Suzanne Lenglen and Vincent Richards toured North America under contract to Charles C. Pyle. The main events of the professional circuit comprised head-to-head competition and by-invitation Pro Championships, which were the precedents for the Grand Slam tournaments before the Open Era began in 1968.
Pro tours[edit]
In the years before the open era, male professionals often played more frequently on tours than in tournaments because head-to-head tours between two stars paid much better than tournaments and the number of professional tournaments was small. For example, Fred Perry earned U.S. $91,000 ($1,549,106 today) in a 1937 North American tour against Ellsworth Vines but won only U.S. $450 ($7,823) for his 1938 victory at the U.S. Pro Tennis Championships. Vines probably never entered a tournament in 1937 and 1938. In 1937, Vines played 70 matches on two tours and no tournament matches. Even in the 1950s, some professionals continued to play tour matches. During his first five months as a professional (January through May 1957), Ken Rosewall played 76 matches on a tour against Pancho Gonzales but only 9 tournament matches. Joe McCauley determined that for 1952, only 7 professional tournaments were played by the top international players, and 2 other professional tournaments (the British Pro and the German Pro) were reserved for domestic players. Only during the 1960s did professional tournaments become more significant than tours.
Pro Championships (Pro Slams)[edit]
Main article: Major professional tennis tournaments before the Open Era
In addition to head-to-head events several annual professional tournaments were called championship tournaments. The most prestigious was usually the Wembley Championship, held at the Wembley Arena in England, played between 1934 and 1990. The oldest was the U.S. Pro Tennis Championships, played between 1927 and 1999. Between 1954 and 1962, it was played indoors in Cleveland and was called the World Professional Championships. The third major tournament was the French Pro Championship, played between 1930 and 1968. The British and American championships continued into the Open era but devolved to the status of minor tournaments after the late 1960s.
The Tournament of Champions was held between 1956 and 1959, the 1956 edition taking place in Los Angeles and the 1957, 1958 and 1959 editions taking place at Forest Hills. There was also the Wimbledon Pro tournament held in August 1967, the first tournament where professional tennis players were allowed to play at Wimbledon.
Open era[edit]
"Open era" redirects here. For other uses, see Open era (disambiguation).
The French Championships at Roland Garros was the first Grand Slam tournament to become "open" to professionals
The "open era" began in 1968 when Grand Slam tournaments agreed to allow professional players to compete with amateurs.[63] Before 1968, only amateurs were allowed to compete in Grand Slam tournaments and other events organized or sanctioned by the ILTF, including Davis Cup.
The move is made because the English are tired of the hypocrisy in the sport, the shamateurism that plagues high-class tennis. It is well known that amateurs bargain for – and receive – exorbitant expenses to compete at many tournaments. "We must take action on our own account to make the game honest," said Derek Penmam of the British association. "For too long now we have been governed by a set of amateur rules that are quite unenforceable."[63]
During the first years of the open era, power struggles between the ILTF and the commercial promoters led to boycotts of Grand Slam events. The first open era event was the 1968 British Hard Court Championships held in April at The West Hants Club in Bournemouth, England,[64] while the first open Grand Slam tournament was the 1968 French Open in May.[65] Both tournaments were won by Ken Rosewall. The open era allowed all tennis players the opportunity to make a living by playing tennis.[66]
National Tennis League (NTL) and World Championship Tennis (WCT)[edit]
In 1968, a few professionals were independent, including Lew Hoad, Mal Anderson, Luis Ayala, and Owen Davidson, but most of the best players were under contract. George McCall operated the National Tennis League (NTL) and managed Rod Laver, Ken Rosewall, Andrés Gimeno, Pancho Gonzales, Fred Stolle and Roy Emerson. Dave Dixon (later succeeded by Lamar Hunt) ran World Championship Tennis (WCT) and managed the "Handsome Eight": John Newcombe, Tony Roche, Nikola Pilić, Roger Taylor, Pierre Barthès, Earl "Butch" Buchholz, Cliff Drysdale and Dennis Ralston In 1968, the original Handsome Eight WCT players were not allowed to participate in the French Open.[why?] In 1970, NTL players did not play the Australian Open because their organization did not receive a guarantee. In 1970, neither WCT nor NTL players played in the French Open.
Grand Prix circuit[edit]
Main article: Grand Prix tennis circuit
In the first two years of the open era, the NTL and WCT promoters began to take control of the game. To outmaneuver them, Jack Kramer, the best player of the late 1940s / early 1950s, and at that time a promoter, conceived the Grand Prix tennis circuit in late 1969. He described it as:
. . . a series of tournaments with a money bonus pool that would be split up on the basis of a cumulative point system. This would encourage the best players to compete regularly in the series, so that they could share in the bonus at the end and qualify for a special championship tournament that would climax the year.[67]
In 1970, none of the contract players participated in the French Open. The International Lawn Tennis Federation, alarmed by the control of the promoters, approved Kramer's Grand Prix. Twenty seven tournaments including the three Grand Slams, French Open, Wimbledon and US Open were played that year, with Stockholm tournament ending on 1 November. The independent professional players along with a few contract players, entered the Grand Prix circuit. Contract players could play Grand Prix events provided their contracts allowed it, and that they had adequate time apart from their own circuit.
Tour rivalries and the creation of the Association of Tennis Professionals (ATP)[edit]
The first WCT tournaments were held in February 1968 and the first NTL tournaments in March 1969. In spring 1970, the WCT absorbed the NTL. At the end of 1970, a panel of journalists ranked the players, leading the WCT to send invitations to the 32 top men to play the 1971 WCT circuit: among the 32, Ilie Năstase, Stan Smith, Jan Kodeš, Željko Franulović and Clark Graebner stayed independent. In 1971, the WCT ran 20 tournaments, and concluded the year with the WCT Finals. In 1971, the majority of the best players still mainly played the WCT circuit. Thus, the 1971 Australian Open was a WCT competition whereas the French Open, Wimbledon and U.S. Open were ILTF Grand Prix events.[citation needed]
By then, the rivalry between the two groups became so intense that Rosewall, Gimeno, Laver, Emerson and some other WCT players boycotted the 1971 US Open (although Newcombe played and lost in the first round to Kodes). Bill Riordan (the future manager of Jimmy Connors) complicated matters further with a third professional tour, the U.S. Indoor Circuit. In 1972, the conflict between the ILTF and the WCT culminated in the ILTF banning the contract professional players from all ILTF Grand Prix events between January and July, which included the 1972 French Open and 1972 Wimbledon.[citation needed]
At the 1972 US Open in September, all the players attended and agreed to form a player syndicate to protect themselves from the promoters and associations, resulting in the creation of the Association of Tennis Professionals (ATP).
In 1973, there were four rival professional circuits: the WCT circuit, the Grand Prix circuit, the U.S. Indoor Circuit with Connors and Ilie Năstase and the European Spring Circuit with Năstase as their star. During the year, the ILTF banned Nikola Pilić from 1973 Wimbledon, due to Pilic's alleged refusal to play in Yugoslavia's Davis Cup tie against New Zealand. In retaliation, 81 out of 84 of Pilic's fellow players who were ATP members, boycotted 1973 Wimbledon in response, stating that professional players should have the right of deciding whether to play Davis Cup matches or not. The only ATP players who refused to boycott 1973 Wimbledon were Ilie Năstase, Roger Taylor and Ray Keldie. They were later fined by the ATP for their participation in the tournament.
Between 1974 and 1978, any tennis player who participated in World Team Tennis was banned by the French Tennis Federation from playing in the French Open in the same calendar year.[why?]
Integration[edit]
In 1978 the ILTF Grand Prix and WCT circuits merged. However, In 1982, the WCT circuit separated again and created a more complex WCT ranking, similar to the ATP ranking. The WCT wasn't as successful in the 1980s, and the Grand Prix circuit became the primary circuit. The Grand Prix's governance was led by the 'Men's International Professional Tennis Council (MIPTC)' (also called the Men's Tennis Council (MTC)).[68] The WCT Finals in Dallas continued being held until the end of the 1980s, and then disbanded with the creation of the ATP Tour for 1990.
The open era, the global professional circuit, and television helped tennis spread globally and shed its elitist, anglocentric image. In America in the 1970s, courts are a common feature of public recreational facilities. Accordingly, in the 1970s the U.S. Open moved from the posh West Side Tennis Club to a public park (the USTA Billie Jean King National Tennis Center, Flushing Meadows Park) that is accessible to anyone who buys a ticket.[69] About the same time, the ruling body's name changed from the United States Lawn Tennis Association to the United States Tennis Association.[70]
ATP Tour[edit]
In 1990, the Association of Tennis Professionals, led by Hamilton Jordan, replaced the MTC as the governing body of men's professional tennis. They established the ATP Tour, and packaging the nine most prestigious events as "Super Nine". Twelve of the more prestigious Grand Prix events later were called the International Series Gold while the remaining (approximately 60) became known as the International Series. The format continued from the 1998 season to the present, although slightly reorganized in 2009. The Super Nine became the Masters Series, occupying the rank below the Grand Slams. In 2000, the Grand Slam tournaments and the Masters Series tournaments became the only mandatory professional events. Players were automatically entered and Masters and Slam events became the baseline for player rankings.
In 2009, the Masters events were renamed the ATP World Tour Masters 1000. The Monte Carlo Masters, although retaining its Masters status, uniquely dropped the mandatory commitment. International Series Gold became the ATP World Tour 500, and the remaining events became the ATP World Tour 250. The numbers indicate the winners' ranking points. The Davis Cup also began to award ATP ranking points.
Women's professional tennis[edit]
Women's professional tennis began in 1926, when world number one female player Suzanne Lenglen accepted $50,000 for a series of matches against three-time US Champion Mary K. Browne. The series ended in 1927, and the women did not compete as professionals again until 1941 when Alice Marble headlined a tour against Mary Hardwick. World War II hindered most professional competitions and many players were involved with entertaining the troops. In 1947, women professionals were again in action with a short-lived series of exhibition matches between Pauline Betz and Sarah Palfrey Cooke, both U.S. National Champions. In 1950 and 1951, Bobby Riggs signed Betz and Gussie Moran to play a pro tour with Jack Kramer and Pancho Segura, wherein Betz dominated Moran. Althea Gibson turned professional in 1958 and joined with Karol Fageros ("the Golden Goddess") as the opening act for the Harlem Globetrotters for one season.
There was virtually no further women's professional tennis until 1967, when promoter George McCall signed Billie Jean King, Ann Jones, Françoise Dürr, and Rosie Casals to join his tour of eight men for two years.[71] The professional women then played as independents as the open era began.
In 1970, promoter for the Pacific Southwest Championships in Los Angeles Jack Kramer offered the women only $7,500 in prize money versus the men's total of $50,000. When Kramer refused to match the men's prize money, King and Casals urged the other women to boycott.
Gladys Heldman, American publisher of World Tennis magazine, responded with a separate women's tour under the sponsorship of Virginia Slims cigarettes. In 1971 and 1972 the WT Women's Pro Tour offered nearly ten times the prize money of other pro women's tennis events. The USLTA initially would not sanction the tour; however, the two groups determined to give Virginia Slims the individual events, and the USLTA the tour, thus resolving the conflict. In 1973, the U.S. Open made history by offering equal prize money to men and women. Billie Jean King, the most visible advocate for the women's cause, earned over $100,000 in 1971 and 1972.[72]
In the famous Battle of the Sexes exhibition match against the vocally sexist Bobby Riggs in September 1973, King brought even more media attention to tennis, and to women professionals in all walks of life by beating Riggs.
The Women's Tennis Association, formed in 1973, is the principal organizing body of women's professional tennis, organizing the worldwide, professional WTA Tour. From 1984–98, the finals matches of the championship event were best-of-five, uniquely among women's tournaments. In 1999, the finals reverted to best-of-three. The WTA Tour Championships are generally considered to be the women's fifth most prestigious event (after the four Grand Slam tournaments.) Sponsors have included Virginia Slims (1971–78), Avon (1979–82), Virginia Slims again (1983–94), J.P. Morgan Chase (1996–2000), Sanex (2001) Home Depot (2002), and Sony Ericsson (2006).
Hall of Fame[edit]
In 1954, James Van Alen founded the International Tennis Hall of Fame, a non-profit museum in Newport, Rhode Island.[73] The building contains a large collection of memorabilia as well as honoring prominent players and others. Each year, a grass-court tournament takes place on its grounds, as well as an induction ceremony honoring new members.
See also[edit]
Tennis portal
Tennis technology
Tennis at the Summer Olympics
Notes[edit]
Jump up ^ The first known instance of the word tennis in the English language dates to 1396 when a William Terrey had to appear before the burghmote of Canterbury for allowing people to play le Closhe and le Tenesse on his ground.[12]
References[edit]
Jump up ^ Gillmeister, Heiner (1998). Tennis : A Cultural History. Washington Square, N.Y.: New York University Press. p. 117. ISBN 081473121X.
Jump up ^ Crego, Robert. Sports and Games of the 18th and 19th Centuries, page 115 (2003).
Jump up ^ "Davis Cup History". ITF.
^ Jump up to: a b c d e f g h "Suzanne Lenglen and the First Pro Tour". Retrieved 2007-05-29.
Jump up ^ "History of the Pro Tennis Wars Chapter 2, part 1 1927–1928". Retrieved 2007-05-29.
^ Jump up to: a b Open Minded – Bruce Goldman
Jump up ^ Tennis, professional tournaments before the open era
^ Jump up to: a b Jon Henderson (2008-12-10). "Middle-class heroes can lift our game". London: The Observer, theguardian.co.uk. Retrieved 2008-08-02. it was no longer true that tennis was a middle-class sport
Jump up ^ Kate Magee (2008-07-10). "Max Clifford to help shed tennis' middle-class image". PR Week. Retrieved 2008-08-02.
Jump up ^ The Sugarman. "There are 3 levels of social class in tennis: Upper middle class, middle class and lower middle class". BookieBusters.net. Retrieved 2008-08-02.
Jump up ^ "tennis - Origin and history of tennis by Online Etymology Dictionary". Etymonline.com. Retrieved 8 October 2017.
Jump up ^ Gillmeister, Heiner (1998). Tennis : A Cultural History. Washington Square, N.Y.: New York University Press. p. 106. ISBN 081473121X.
Jump up ^ Gillmeister, Heiner (1998). Tennis : A Cultural History. Washington Square, N.Y.: New York University Press. p. 40. ISBN 081473121X.
Jump up ^ Whitman, Malcolm D. (2004) [1932]. Tennis : Origins and Mysteries (Dover ed.). Mineola, N.Y.: Dover Publications. pp. 25, 26. ISBN 0486433579.
Jump up ^ United States Tennis Association (1979). Bill Shannon, ed. Official Encyclopedia of Tennis (Rev. and updated 1st ed.). New York: Harper & Row. p. 2. ISBN 0060144785.
Jump up ^ "John Gower: In Praise of Peace". University of Rochester. Retrieved 11 October 2012.
Jump up ^ Gillmeister, Heiner (1998). Tennis : A Cultural History. Washington Square, N.Y.: New York University Press. pp. 75, 76. ISBN 081473121X.
Jump up ^ Hahn, Thomas(1995). Sir Gawain: Eleven Romances and Tales. Medieval Institute Publications
Jump up ^ Clerici, Gianni (1976). Tennis. London: Octopus Books. p. 21. ISBN 9780706405231. OCLC 16360735.
Jump up ^ Schickel, Richard (1975). The World of Tennis. New York: Random House. p. 32. ISBN 0-394-49940-9.
Jump up ^ Roger Morgan, The silver ball of rattray: a note on an early form of tennis, The International Journal of the History of Sport, Vol. 8, Iss. 3, 1991
Jump up ^ McGladdery, The Kings & Queens of Scotland: James I, p. 143
Jump up ^ Schickel, Richard (1975). The World of Tennis. New York: Random House. p. 32. ISBN 0-394-49940-9.
Jump up ^ The Encyclopedia of Tennis, p. 17
Jump up ^ The Encyclopedia of Tennis, p. 18
Jump up ^ Shakespeare, William (Early 1600s). The Chronicle History of King Henry the Fifth. Act 1, Scene 2
Jump up ^ The Encyclopedia of Tennis, p. 21
Jump up ^ Tyzack, Anna, The True Home of Tennis Country Life, 22 June 2005
Jump up ^ Lawn Tennis and Major T. H. Gem Archived February 9, 2008, at the Wayback Machine. Birmingham Civic Society
Jump up ^ "Leamington Tennis Club". Retrieved 2007-05-29.
Jump up ^ E. M. Halliday (June 1971). "Sphairistiké, Anyone?". American Heritage.
Jump up ^ The History of Tennis – Mary Bellis
Jump up ^ Robertson, Max (1974). Encyclopedia of Tennis. The Viking Press. pp. 22–24.
Jump up ^ "23 February 1874 in History". Retrieved 2007-05-29.
Jump up ^ "When the Girls Came Out to Play: The Birth of American Sportswear". Retrieved 2007-05-29.
Jump up ^ The Beginnings Of Lawn Tennis – University of South Carolina Libraries
Jump up ^ Barrett, John (2010). The Original Rules of Tennis. Oxford: Bodleian Library. pp. 13–19. ISBN 9781851243181.
Jump up ^ "Bermuda's Place in Tennis History". Blackburne.
Jump up ^ "Bermudas Place in Tennis History > The IC of Bermuda". Ictennis.net. Retrieved 8 October 2017.
^ Jump up to: a b "Our History". Staten Island Tennis Association. Retrieved 8 October 2017.
Jump up ^ "Online Etymology Dictionary". Etymonline.com. 1927-06-10. Retrieved 2013-05-15.
Jump up ^ "Tennis from Beijing Olympics 2008". Archived from the original on 2007-11-01. Retrieved 2007-05-29.
^ Jump up to: a b "The Online Guide to Traditional Games". Retrieved 2007-05-29.
Jump up ^ Palmatier, Robert. Speaking of animals: a dictionary of animal metaphors, page 245 (1995).
Jump up ^ Horn, Geoffrey. Rafael Nadal, page 13 (2006).
Jump up ^ Bondt, Cees de (1993). Heeft yemant lust met bal, of met reket te spelen...?. Hilversum: Verloren. p. 10. ISBN 9789065503794.
Jump up ^ Grand Slam – Australian Open
Jump up ^ "Originality of the phrase "Grand Slam"". Archived from the original on 2012-09-06. Retrieved 2007-05-29.
Jump up ^ "History of Tennis". International Tennis Federation. Retrieved 2008-07-28.
Jump up ^ "The Trophies". wimbledon.org. Archived from the original on 2009-04-27. Retrieved 2010-11-12.
Jump up ^ "Roll of Honour". wimbledon.org. Archived from the original on 2010-12-09. Retrieved 2010-11-12.
Jump up ^ "Women In Sport". Archived from the original on 2007-06-14. Retrieved 2007-05-29.
Jump up ^ "History of United States Tennis Association". Archived from the original on 2007-10-30. Retrieved 2007-05-29.
Jump up ^ "Fact & History of Rhodes Island". Retrieved 2007-05-29.
Jump up ^ Leading The Way – BBC Sport
Jump up ^ "Tennis: Britain Misses Out on World Party That Once Roused Fury of the Fuhrer". Retrieved 2007-05-29. [permanent dead link]
Jump up ^ "Davis Cup History". daviscup.com. Retrieved 2010-12-05.
Jump up ^ "Davis Cup by BNP Paribas". Retrieved 2007-05-29.
Jump up ^ History of The Davis Cup. Retrieved 2007-09-10.
Jump up ^ "James Henry Van Alen in the Tennis Hall of Fame". Archived from the original on September 30, 2007. Retrieved 2007-05-29.
Jump up ^ "Fed Cup History". International Tennis Federation (ITF).
Jump up ^ "History of the Pro Tennis Wars Chapter 2, part 1 1927–1928". Retrieved 2007-05-29.
^ Jump up to: a b "Open tennis accepted for Wimbledon". espn.go.com. ESPN. 14 December 1967.
Jump up ^ Henderson, Jon (15 June 2008). "Now I'd choose tennis". The Observer. 'Yes, "open" tennis has come at last and Bournemouth has been entrusted with the task of a world shaking launching,' said the programme notes for the 1968 Hard Court Championships of Great Britain, which brought an end to the sport's segregation of amateur and professional players.
Jump up ^ "Event Guide / History: Roland-Garros, a never-ending story". Roland Garros Official Website. IBM Corporation and Fédération Française de Tennis. Archived from the original on 2008-07-04. Another significant turning point came in 1968 when the French Internationals became the first Grand Slam tournament to join the "Open"" era.
Jump up ^ "Power struggle on the tennis courts". The Canberra Times (ACT : 1926 - 1995). ACT: National Library of Australia. 19 June 1969. p. 30.
Jump up ^ THE GAME My 40 Years in Tennis, by Jack Kramer with Frank Deford, pages 275–276
Jump up ^ "ATP corporate history". Retrieved 14 September 2016.
Jump up ^ "History of the West Side Tennis Club". Archived from the original on 2004-05-19. Retrieved 2007-05-29.
Jump up ^ "History of USTA". Archived from the original on November 12, 2006. Retrieved 2007-05-29.
Jump up ^ Max Robertson, The Encyclopedia of Tennis, 1974, The Viking Press, New York, ISBN 978-0-670-29408-4, p. 68
Jump up ^ Max Robertson, p. 70
Jump up ^ "International Tennis Hall of Fame Information". Archived from the original on May 18, 2007. Retrieved 2007-05-29.
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Bond market
From Wikipedia, the free encyclopedia
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Financial markets
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Exchange · Securities
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Fixed income
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High-yield debt
Municipal bond

Securitization
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Stock

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(Credit derivative
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The bond market (also debt market or credit market) is a financial market where participants can issue new debt, known as the primary market, or buy and sell debt securities, known as the secondary market. This is usually in the form of bonds, but it may include notes, bills, and so on.
Its primary goal is to provide long-term funding for public and private expenditures.[1] The bond market has largely been dominated by the United States, which accounts for about 44% of the market.[2] As of 2009, the size of the worldwide bond market (total debt outstanding) is an estimated at $82.2 trillion,[3] of which the size of the outstanding U.S. bond market debt was $31.2 trillion according to Bank for International Settlements (BIS), or alternatively $35.2 trillion as of Q2 2011 according to Securities Industry and Financial Markets Association (SIFMA).[3]
The bond market is part of the credit market, with bank loans forming the other main component. The global credit market in aggregate is about 3 times the size of the global equity market.[1] Bank loans are not securities under the Securities and Exchange Act, but bonds typically are and are therefore more highly regulated. Bonds are typically not secured by collateral (although they can be), and are sold in relatively small denominations of around $1,000 to $10,000. Unlike bank loans, bonds may be held by retail investors. Bonds are more frequently traded than loans, although not as often as equity.[1][4][5]
Nearly all of the average daily trading in the U.S. bond market takes place between broker-dealers and large institutions in a decentralized over-the-counter (OTC) market.[6] However, a small number of bonds, primarily corporate ones, are listed on exchanges. Bond trading prices and volumes are reported on FINRA's Trade Reporting and Compliance Engine, or TRACE.[4][5]
An important part of the bond market is the government bond market, because of its size and liquidity. Government bonds are often used to compare other bonds to measure credit risk. Because of the inverse relationship between bond valuation and interest rates (or yields), the bond market is often used to indicate changes in interest rates or the shape of the yield curve, the measure of "cost of funding". The yield on government bonds in low risk countries such as the United States or Germany is thought to indicate a risk-free rate of default.[4][5] Other bonds denominated in the same currencies (U.S. Dollars or Euros) will typically have higher yields, in large part because other borrowers are more likely than the U.S. or German Central Governments to default, and the losses to investors in the case of default are expected to be higher. The primary way to default is to not pay in full or not pay on time.[1][4][5]
Contents
[hide]
1 Types of bond markets
2 Bond market participants
3 Bond market size
3.1 U.S. bond market size
4 Bond market volatility
5 Bond market influence
6 Bond investments
7 Bond indices
8 See also
9 References
Types of bond markets[edit]
The Securities Industry and Financial Markets Association (SIFMA) classifies the broader bond market into five specific bond markets.
Corporate
Government and agency
Municipal
Mortgage-backed, asset-backed, and collateralized debt obligations
Funding
Bond market participants[edit]
Bond market participants are similar to participants in most financial markets and are essentially either buyers (debt issuer) of funds or sellers (institution) of funds and often both.
Participants include:
Institutional investors
Governments
Traders
Individuals
Because of the specificity of individual bond issues, and the lack of liquidity in many smaller issues, the majority of outstanding bonds are held by institutions like pension funds, banks and mutual funds. In the United States, approximately 10% of the market is held by private individuals.
Bond market size[edit]
Amounts outstanding on the global bond market increased by 2% in the twelve months to March 2012 to nearly $100 trillion. Domestic bonds accounted for 70% of the total and international bonds for the remainder. The United States was the largest market with 33% of the total followed by Japan (14%). As a proportion of global GDP, the bond market increased to over 140% in 2011 from 119% in 2008 and 80% a decade earlier. The considerable growth means that in March 2012 it was much larger than the global equity market which had a market capitalisation of around $53 trillion. Growth of the market since the start of the economic slowdown was largely a result of an increase in issuance by governments.
The outstanding value of international bonds increased by 2% in 2011 to $30 trillion. The $1.2 trillion issued during the year was down by around a fifth on the previous year's total. The first half of 2012 was off to a strong start with issuance of over $800 billion. The United States was the leading center in terms of value outstanding with 24% of the total followed by the UK 13%.[7]
U.S. bond market size[edit]
Treasury (35.16%)
Corporate Debt (21.75%)
Mortgage Related (22.60%)
Municipal (9.63%)
Money Markets (2.36%)
Agency Securities (4.99%)
Asset-backed (3.51%)
According to the Securities Industry and Financial Markets Association (SIFMA),[8] as of Q1 2017, the U.S. bond market size is (in billions):
Category
Amount
Percentage
Treasury $13,953.6 35.16%
Corporate Debt $8,630.6 21.75%
Mortgage Related $8,968.8 22.60%
Municipal $3,823.3 9.63%
Money Markets $937.2 2.36%
Agency Securities $1,981.8 4.99%
Asset-Backed $1,393.3 3.51%
Total $39,688.6 100%
Note that the total federal government debts recognized by SIFMA are significantly less than the total bills, notes and bonds issued by the U.S. Treasury Department,[9] of some $19.8 trillion at the time. This figure is likely to have excluded the inter-governmental debts such as those held by the Federal Reserve and the Social Security Trust Fund.
Bond market volatility[edit]
Bond market prices.
For market participants who own a bond, collect the coupon and hold it to maturity, market volatility is irrelevant; principal and interest are received according to a pre-determined schedule.
But participants who buy and sell bonds before maturity are exposed to many risks, most importantly changes in interest rates. When interest rates increase, the value of existing bonds falls, since new issues pay a higher yield. Likewise, when interest rates decrease, the value of existing bonds rises, since new issues pay a lower yield. This is the fundamental concept of bond market volatility—changes in bond prices are inverse to changes in interest rates. Fluctuating interest rates are part of a country's monetary policy and bond market volatility is a response to expected monetary policy and economic changes.
Economists' views of economic indicators versus actual released data contribute to market volatility. A tight consensus is generally reflected in bond prices and there is little price movement in the market after the release of "in-line" data. If the economic release differs from the consensus view, the market usually undergoes rapid price movement as participants interpret the data. Uncertainty (as measured by a wide consensus) generally brings more volatility before and after a release. Economic releases vary in importance and impact depending on where the economy is in the business cycle.
Bond market influence[edit]
Bond markets determine the price in terms of yield that a borrower must pay in order to receive funding. In one notable instance, when President Bill Clinton attempted to increase the U.S. budget deficit in the 1990s, it led to such a sell-off (decreasing prices; increasing yields) that he was forced to abandon the strategy and instead balance the budget. [10][11]
I used to think that if there was reincarnation, I wanted to come back as the president or the pope or as a .400 baseball hitter. But now I would like to come back as the bond market. You can intimidate everybody.
—  James Carville, political advisor to President Clinton, Bloomberg [11]
Bond investments[edit]
Bonds typically trade in $1,000 increments and are priced as a percentage of par value (100%). Many bonds have minimums imposed by the bond or the dealer. Typical sizes offered are increments of $10,000. For broker/dealers, however, anything smaller than a $100,000 trade is viewed as an "odd lot".
Bonds typically pay interest at set intervals. Bonds with fixed coupons divide the stated coupon into parts defined by their payment schedule, for example, semi-annual pay. Bonds with floating rate coupons have set calculation schedules where the floating rate is calculated shortly before the next payment. Zero-coupon bonds do not pay interest. They are issued at a deep discount to account for the implied interest.
Because most bonds have predictable income, they are typically purchased as part of a more conservative investment scheme. Nevertheless, investors have the ability to actively trade bonds, especially corporate bonds and municipal bonds with the market and can make or lose money depending on economic, interest rate, and issuer factors.
Bond interest is taxed as ordinary income, in contrast to dividend income, which receives favorable taxation rates. However many government and municipal bonds are exempt from one or more types of taxation.
Investment companies allow individual investors the ability to participate in the bond markets through bond funds, closed-end funds and unit-investment trusts. In 2006 total bond fund net inflows increased 97% from $30.8 billion in 2005 to $60.8 billion in 2006.[12] Exchange-traded funds (ETFs) are another alternative to trading or investing directly in a bond issue. These securities allow individual investors the ability to overcome large initial and incremental trading sizes.
Bond indices[edit]
Main article: Bond market index
A number of bond indices exist for the purposes of managing portfolios and measuring performance, similar to the S&P 500[13] or Russell Indexes for stocks. The most common American benchmarks are the Barclays Capital Aggregate Bond Index, Citigroup BIG and Merrill Lynch Domestic Master. Most indices are parts of families of broader indices that can be used to measure global bond portfolios, or may be further subdivided by maturity or sector for managing specialized portfolios.
See also[edit]
Bond
Bond market index
Bond valuation
Corporate bond
Deferred financing costs
Government bond
Interest rate risk
Primary market
Secondary market
Bullet strategy
Barbell strategy
War Bond
Specific:
US Savings Bonds
Foreign exchange reserves of the People's Republic of China
References[edit]
This article includes a list of references, but its sources remain unclear because it has insufficient inline citations. Please help to improve this article by introducing more precise citations. (July 2008) (Learn how and when to remove this template message)
^ Jump up to: a b c d Simkovic, Michael (2016). "What Can We Learn from Credit Markets?". Proceedings of the 93rd Annual Meeting of the American Law Institute. SSRN 2782844  .
Jump up ^ "Archived copy". Archived from the original on 2016-04-07. Retrieved 2012-03-09.
^ Jump up to: a b Outstanding World Bond Market Debt Archived August 26, 2013, at the Wayback Machine. from the Bank for International Settlements via Asset Allocation Advisor. Original BIS data as of March 31, 2009; Asset Allocation Advisor compilation as of November 15, 2009. Accessed January 7, 2010.
^ Jump up to: a b c d Michael Simkovic (2016). Adler, Barry, ed. Making Fraudulent Transfer Law More Predictable, in Handbook on Corporate Bankruptcy. Edward Elgar. SSRN 2775920  .
^ Jump up to: a b c d Simkovic, Michael; Kaminetzky, Benjamin (2011). "Leveraged Buyout Bankruptcies, the Problem of Hindsight Bias, and the Credit Default Swap Solution". Columbia Business Law Review. 2011: 118. SSRN 1632084  .
Jump up ^ Avg Daily Trading Volume Archived May 19, 2016, at the Wayback Machine. SIFMA 1996 - 2016 Average Daily Trading Volume. Accessed April 15, 2016.
Jump up ^ [1][permanent dead link] Bond Markets 2012 report
Jump up ^ "Archived copy". Archived from the original on 2016-11-21. Retrieved 2013-07-10. SIFMA Statistics
Jump up ^ "Archived copy". Archived from the original on 2016-11-18. Retrieved 2011-09-29. Treasury Bulletin
Jump up ^ M&G Investments - Bond Vigilantes - Are the bond vigilantes vigilant enough?, 20 February 2009
^ Jump up to: a b Bloomberg - Bond Vigilantes Push U.S. Treasuries Into Bear Market Archived January 22, 2009, at the Wayback Machine., 10 February 2009
Jump up ^ Bond fund flows Archived August 7, 2011, at the Wayback Machine. SIFMA. Accessed April 30, 2007.
Jump up ^ "S&P 500 Components". Investing.com. Retrieved 16 March 2017.
[hide]
v
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Bond market
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Exchangeable bond
Extendible bond
Puttable bond
Institutions
Commercial Mortgage Securities Association (CMSA)
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Securities Industry and Financial Markets Association (SIFMA)
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text:
You'll Never Find Another Love Like Mine
From Wikipedia, the free encyclopedia
Jump to: navigation, search
"You'll Never Find Another Love Like Mine"
Single by Lou Rawls
from the album All Things in Time
B-side
"Let's Fall in Love All Over Again"
Released
May 1976
Format
7"
Genre
R&B, Jazz, Disco
Length
4:26 (album version)
3:36 (single edit)
Label
Philadelphia International Records
Songwriter(s)
Kenny Gamble
Leon Huff
Producer(s)
Kenny Gamble
Leon Huff
Lou Rawls singles chronology
"A Natural Man"
(1971) "You'll Never Find Another Love Like Mine"
(1976) "Groovy People"
(1976)
"A Natural Man"
(1971) "You'll Never Find Another Love Like Mine"
(1976) "Groovy People"
(1976)
"You'll Never Find Another Love Like Mine" (written by Kenny Gamble & Leon Huff) is a song performed by R&B singer Lou Rawls on his 1976 album All Things in Time. The song proved to be Rawls' breakthrough hit, reaching number one on both the R&B[1] and Easy Listening charts as well as number four on the dance chart [2] and number two on the US Billboard Hot 100, where it was kept from the top spot for two weeks by "You Should Be Dancing" by The Bee Gees[3] and "(Shake, Shake, Shake) Shake Your Booty" by KC and the Sunshine Band,[4] respectively. This was the first and only time that one of Rawls' records managed to reach Billboard's pop top ten. It was the first big hit for Philadelphia International to feature the reformulated MFSB, after many of the original members left Gamble and Huff for better opportunities.[5] The song started Rawls' live shows from 1977 on.
The single went on to sell over a million copies and was certified gold by the RIAA.[6]
Contents
[hide]
1 Chart performance
1.1 Weekly charts
1.2 Year-end charts
2 Later uses
3 Cover versions
4 See also
5 References
6 External links
Chart performance[edit]
Weekly charts[edit]
Chart (1976–77)
Peak
position
Australia KMR[7] 22
Canada RPM Top Singles[8] 2
UK 10
US Billboard Hot 100 2
US Billboard Hot Dance Club Play 4
US Billboard Hot Adult Contemporary Tracks[9] 1
US Billboard Hot Black Singles 1
Year-end charts[edit]
Chart (1976)
Rank
Canada[10] 38
US Billboard Hot 100[11] 32
Chart (1977)
Rank
Australia 97
Later uses[edit]
It can also be heard in the films The Hot Chick (2002), Guess Who (2005), Disturbia (2007), Ice Age: Dawn of the Dinosaurs (2009), Hit and Run (2012), Veronica Mars (2014), and on the TV sitcoms My Wife and Kids (2001–2005), in which Lou Rawls himself sings it to Damon Wayans during a colonoscopy, That '70s Show (1998–2006), South Park (1997–), Two and a Half Men (2003–2015), and Psych (2006–2014). The song could also be heard in an episode of The Proud Family, where Lou Rawls sings and dances with Penny Proud. In addition, it was performed by the singer in doll form in an Action League Now! segment on KaBlam!. The song "If You Could Love Me" by Edwyn Collins uses many of the same chords, and has a similar sound. Rocco DiSpirito and Karina Smirnoff also danced the rumba to this song in week 2 of season 7 of Dancing with the Stars.
Cover versions[edit]
"You'll Never Find Another Love Like Mine" has been covered by singers Michael Bublé, Laura Pausini, reggae singer John Holt and by the Dub Pistols (who use a sample of John Holt's version) on their Speakers and Tweeters album. Jazz saxophonist Stanley Turrentine covered the song on his 1976 album The Man with the Sad Face.[12] as did Hank Crawford on Hank Crawford's Back. This song was also featured on The Proud Family Soundtrack.
See also[edit]
List of number-one R&B singles of 1976 (U.S.)
List of number-one adult contemporary singles of 1976 (U.S.)
References[edit]
Jump up ^ Whitburn, Joel (2004). Top R&B/Hip-Hop Singles: 1942-2004. Record Research. p. 483.
Jump up ^ Whitburn, Joel (2004). Hot Dance/Disco: 1974-2003. Record Research. p. 213.
Jump up ^ "Billboard Hot 100". 1976-09-04. Retrieved 2015-06-07.
Jump up ^ "Billboard Hot 100". 1976-09-11. Retrieved 2015-06-07.
Jump up ^ "The Hits Just Keep On Comin': You'll Never Find Another Love Like Mine". Hitsjustkeeponcomin.blogspot.com. 2005-01-12. Retrieved 2016-10-12.
Jump up ^ [1][permanent dead link]
Jump up ^ "Archived copy". Archived from the original on June 2, 2016. Retrieved October 27, 2015.
Jump up ^ "Image : RPM Weekly - Library and Archives Canada". Bac-lac.gc.ca. Retrieved 2016-10-12.
Jump up ^ Whitburn, Joel (2002). Top Adult Contemporary: 1961-2001. Record Research. p. 200.
Jump up ^ "Top Singles – Volume 26, No. 14 & 15, January 08 1977". RPM. Library and Archives Canada. Retrieved June 13, 2016.
Jump up ^ "Top 100 Hits of 1976/Top 100 Songs of 1976". Musicoutfitters.com. Retrieved 2016-10-12.
Jump up ^ Erlewine, Michael. The Man with the Sad Face – Review at AllMusic. Retrieved April 16, 2015.
External links[edit]
Lyrics of this song at MetroLyrics
[hide]
v
t
e
Lou Rawls
Albums
Stormy Monday
All Things in Time
Unmistakably Lou
When You Hear Lou, You've Heard It All
Let Me Be Good to You
Sit Down and Talk to Me
Singles
"Love Is a Hurtin' Thing"
"Your Good Thing (Is About to End)"
"Bring It On Home to Me"
"You'll Never Find Another Love Like Mine"
"Lady Love"
Retrieved from "https://en.wikipedia.org/w/index.php?title=You%27ll_Never_Find_Another_Love_Like_Mine&oldid=794216298"
Categories:
1976 singles
1976 songs
Billboard Adult Contemporary number-one singles
Billboard Hot R&B/Hip-Hop Songs number-one singles
Lou Rawls songs
Philadelphia International Records singles
Songs written by Kenny Gamble
Songs written by Leon Huff
Songs from animated films
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The Hot Chick (film)

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Penny Proud

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The Proud Family (album)

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Lou_Rawls
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Bring It On Home to Me

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values: You'll Never Find Another Love Like Mine – Italian

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