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"Markets are beginning to (rightly in our opinion) view the Fed's commitment on Fed funds as a...

"Markets are beginning to (rightly in our opinion) view the Fed's commitment on Fed funds as a worthless promise," says ING's Rob Carnell, as thoughts turn to 1992-93, another period when markets had gotten used to low rates forever. The bond market carnage of 1994 ensued. The 10-year is up another 2 bps to 2.28%.
Comments (1)
  • 1994 was a devastating year for bonds - let's hope it doesn't happen again. It would cause much more pain now for all those pension funds, banks, and mutual investors then it did back then.
    15 Mar 2012, 05:41 PM Reply Like
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