After the bond turbulence on Tuesday, it is worth trying to take a step back to reconsider some of the drivers of this move; place it in broader macro context,and then look ahead. The conclusions for the US economy and US relatedrisk appetite are more constructive than the market’s recent tenor wouldsuggest, but this optimism comes with a big ‘health warning’ that the Ebolauncertainties need to be contained.
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