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Commentary
Canso July 2007 Corporate Bond Newsletter

Interest rates continued to rise over the second quarter of 2007 with the yield curve in the United States “normalizing” from its slight inversion earlier in the year. This reflects the steady drumbeat of decent economic statistics and the shifting of global monetary policy away from ultra ease. The real drama in the bond market occurred on the credit front, as tighter money and a return of credit risk made for a turbulent quarter for bond managers.

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Canso July 2007 Corporate Bond Newsletter