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“It’s Going to Be Messy” In the Bond Market (And Stocks Won’t Be Spared)

Monday, August 4, 2014 22:42
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by Wolf Richter
Wolf Street

Perma-critic of the Fed’s QE, Richmond Fed president Jeffrey Lacker swung at it again, but this time against the markets that somehow seem to be willfully blind, or immersed in wishful thinking, when it comes to rising interest rates. Or maybe they simply can’t afford what rising rates would entail. Are they too painful to contemplate?

But they should contemplate it, Lacker suggested. Investors – and that would mostly be institutional investors – have been underestimating for months the speed with which the Fed will raise short-term rates, he told Bloomberg.

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