Bond market calls Fed's bluff as global economy falls apart
Global bond markets are calling the bluff of the US Federal Reserve.
By Ambrose Evans-Pritchard Last Updated: 7:22PM GMT 08 Feb 2009
The yield on 10-year US Treasury bonds – the world's benchmark cost of capital – has jumped from 2pc to 3pc since Christmas despite efforts to talk the rate down. This level will asphyxiate the US economy if allowed to persist...
Readers have berated me for a piece last week – "Glimmers of Hope" – that hinted at recovery. Let me stress, I was wearing my reporter's hat, not expressing an opinion. My own view, sadly, is that there is no hope at all of stabilizing the world economy on current policies.
Read entire item: Global Economy Nears Abyss
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Whilst everything seems to be in a freefall into unspeakable disaster, there is HOPE. Read the booklets Fourteen Signs Announcing Christ's Return and The World Ahead: What Will It Be Like? available free.
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