It was a sure thing. With the Fed cutting back its massive QE bond-buying program this year bonds would plunge. Instead, they began rallying sharply in January, precisely when the Fed began tapering back QE. It seems that economists expecting bonds to plunge failed to anticipate that foreign demand for U.S. treasury bonds would make up for the slowing of Fed bond buying. More recently, experts expected bonds would surely begin declining this fall in anticipation of the ...
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