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It’s been a tough start to the New Year if you’re a fan of the bond market. Tuesday, for example, saw stories with headlines like “With Red Tape Losing Its Grip, Firms Ante Up” and that from the New York Times. The story was about business confidence translating to investment. The same day the Wall Street Journal headlined “Sluggish Wages See Uptick” and “Pensions Keep Up Costly Market Bets.” The former was about pay in low UNR areas rising at twice the national average and the latter about CalSTERs deciding NOT to sell $50 plus billion in stocks to move into bonds. Read more from David Ader's latest musings.
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