Tuesday, January 31, 2012

The Fed’s Rain Dance at the Bottom of the Stairs

It's an ugly situation. Short-term treasury yields are at practically zero, 5-year yields hit a new all-time low of 0.71%, and even 30-year yields dipped below 3%. Savings accounts, money market funds, and short-term CDs yield just about nothing. Yet inflation was 3% in 2011. LINK

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