The bond market stands resolute in its conviction that long-term interest rates can never rise. Besides, the omniscient and ever vigilant U.S. Federal Reserve stands at the ready to rescue financial incompetence wherever and whenever it occurs. The financial markets believe that the new Fed Chair, “Helicopter Ben” Bernanke, will continue the Greenspanian propensity to inflate the money supply to defeat all financial enemies of American prosperity, real or imagined.
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Canso February 2006 Corporate Bond Newsletter
