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« French Trader Surrenders $7.14 Billion | Main | Harley’s Earnings » January 25, 2008 The Yield CurveHere's a colorful chart:
This is the point I'm trying to get across. I believe the Fed's rate cut was NOT a cut to prop up equity prices, but a response to the turmoil in the bond market. If anything, it was to pop the bond bubble--and as you can see from the post below, the Fed's job includes promoting "moderate long-term interest rates." I'm not saying I agree with it, but try to look at this from the Fed's point of view. In just a few months, a flat yield curve completely unraveled. Posted by edelfenbein at January 25, 2008 10:46 AM |
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