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Old 03-04-2010, 02:01 PM
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Default Bond Markets and Fed Rhetoric: Lessons from 2003-04

During Bernanke's semi-annual testimony to Congress, he reiterated that rates could remain low for an "extended period", thus signalling that the recent hike in the discount rate did not indicate that a hike in the Fed Funds rate was imminent. In the months ahead, markets could be very sensitive to...
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