Bond Outlook [by bridport & cie, November 28th 2007]
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The “Tuesday effect” has struck again, as if, every week, the mood of stock markets (but not of bond markets) turns momentarily positive, usually on the basis of some item of good news and despite the black picture overall. This week the “good news” was the USD 7.5 billion purchase of hybrid bonds in Citigroup by the Abu Dhabi Investment Authority suggesting that confidence in financial institutions may be returning. |
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