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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Elroy Jetson who wrote (31605)	6/6/2005 11:37:35 PM
From: mishedlo	Read Replies (1) of 116555

Fed's Greenspan Says Low Bond Yields Remain Unsolved Puzzle June 6 (Bloomberg) -- Federal Reserve Chairman Alan Greenspan said the ``unusual' decline in long-term U.S. Treasury yields still can't be fully explained and that hedge funds may be over- reaching as they search for higher returns. ``The pronounced decline in U.S. Treasury long-term interest rates over the past year, despite a 200-basis-point increase in our federal funds rate, is clearly without precedent,' Greenspan said today in the text of prepared remarks to the International Monetary Conference in Beijing via satellite. Greenspan didn't discuss the state of the economy or monetary policy.......... bloomberg.com

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