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"Complacency," is the title of an early slide of Terry Belton's at JPMorgan's Fixed Income...

"Complacency," is the title of an early slide of Terry Belton's at JPMorgan's Fixed Income Conference (just getting underway). Ninety percent of surveyed investors expect the 10-year Treasury yield to remain below 2.5% in 2013; just 1% expect it above 3%. The levels are important, of course, but the survey also suggests about zero expectation for any volatility in rates.
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