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	<title>U.S. Economy &#8211; RFR</title>
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	<description>GLOBAL MACRO AND THEMATIC INDEPENDENT RESEARCH</description>
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	<title>U.S. Economy &#8211; RFR</title>
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		<title>T-Bonds or S&#038;P, which of these markets has got it wrong?</title>
		<link>https://richesflores.com/2014/07/26/t-bonds-or-sp-which-of-these-markets-has-got-it-wrong/</link>
		
		<dc:creator><![CDATA[Véronique Riches-Flores]]></dc:creator>
		<pubDate>Sat, 26 Jul 2014 07:47:11 +0000</pubDate>
				<category><![CDATA[GLOBAL MACRO]]></category>
		<category><![CDATA[United States]]></category>
		<category><![CDATA[WEEKLY]]></category>
		<category><![CDATA[T-Bonds]]></category>
		<category><![CDATA[U.S. Economy]]></category>
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					<description><![CDATA[Improving economic indicators, ongoing accommodative monetary policy from the Fed and the bountiful reporting season have propelled U.S. equity indices to new highs in recent days: the S&#038;P has added gains of 6% in the last three months making for a YTD gain of 18% and has even flirted with the 2,000 point level. The confidence backing up these trends is, however, a far cry from the signals the bond markets are sending us. Since the end of April, the yield on 10-year T-bonds has fallen to below 2.50%, i.e. 25 basis points less than mid-April levels and 50bps off from where it started the year. Such distortions between equity and bond markets are tough to reconcile over the duration and will end up. ]]></description>
		
		
		
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