 |
2016-04-11 14:17:24 A ●●●●●● of ●●●●●●pes :●●●●●●●●●●●●●●●●●●.●●●●●●●●●●●●ap12. ●●●●●●us ●●●●●●tris ●●●●●●on C●●●●●●ly, we canât argue with the fact that the 1.6% yield on the 10-year U.S. T●●●●●●y seen in early-May ●●●●●●ed less ●●●●●●ition for ●●●●●●es than the ●●●●●●t 2.6% level, but we have long ●●●●●●ed that the Fed will ●●●●●●e a ●●●●●●●●●●●●y ●●●●●●er ●●●●●●y (●●●●●● a ●●●●●●ve ●●●●●●op for ●●●●●●ate ●●●●●●s) ●●●●●● it ●●●●●●ly would ●●●●●●er ●●●●●●ning ●●●●●●ry ●●●●●●. The ●●●●●●ent ●●●●●●ing the F●●●●●● Open Market C●●●●●●ee ●●●●●●g on Sept. 18 said as much: âTo ●●●●●●t ●●●●●●ued ●●●●●●ss ●●●●●● ●●●●●●m ●●●●●●ment and price ●●●●●●ity, the C●●●●●●ee today ●●●●●●rmed its view that a ●●●●●● ●●●●●●●●●●●●e ●●●●●● of ●●●●●●ry ●●●●●● will ●●●●●● ●●●●●●riate for a ●●●●●●●●●●●● time after the asset ●●●●●●se ●●●●●●m ends and the ●●●●●●ic ●●●●●●ry ●●●●●●thens.â In short, the Fed is ●●●●●● to ●●●●●● ●●●●●●ly for the ●●●●●●eable ●●●●●●. |