Bond Outlook [by bridport & cie, March 28th 2007]
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Our key question last week was “Is the problem of the sub-prime market already over?” It remains open. Our answer was and continues to be “No”, while financial markets are leaning towards “yes”. There is however plenty of support for our view from commentators, who are more out of step with market views than usual. Many of them question the whole credit-based edifice of the US economy. |
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