Bond Outlook [by bridport & cie, July 4th 2007]
Our question last week bears repeating: “Are the waves caused by the failures of the Bear Sterns hedge funds responsible for merely a short-term set back in stock markets and low-credit bonds, or do they reflect a long-term change in sentiment?” A twofold answer is emerging. The bond market is becoming more risk-averse, while stock markets have again treated the failures as a mere temporary set-back before again moving forward. |
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