THE BOND VIGILANTES ARE BACK and they've restored some disinflationary order.Bond yield have shot up in almost unprecedented fashion since the Federal Reserve announced its plan to purchase $600 billion of Treasury securities two weeks ago—precisely the opposite effect the monetary authorities intended from QE2, the second phase of its quantitative easing.From a low of 2.48% on Nov. 4, the day after the announcement of launch of QE2 by the Fed, the 10-year note yield began to rise and then shot up in the past week, to a peak of 2.96% Monday, amid a barrage of withering...
Source: http://www.realclearpolitics.com/2010/11/17/remember_the_bond_vigilantes_they039re_back_245922.html
Joe Biden Joe Lieberman John Barrasso John Cornyn John Edwards
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