Bond Outlook [by bridport & cie, May 6th 2009]
Ben Bernanke has announced that the recovery is in sight for the end of the year. He must be reading our Weekly! Just so long as “recovery” is understood to be the end of the fall in GDP. Do not expect much more than stabilisation thereafter. |
Of greater importance in his recent speech was the recognition that inflation is a huge danger if and when stimulus packages bring GDP declines to an end. |
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