“No one rings a bell at market tops or market bottoms” – Wall Street adage I’m calling my shot. They are ringing the bell. Interest rates will rise in the second half of 2014 and continue to rise in 2015. While the Federal Reserve was able to postpone the inevitable by its continuous purchase of U.S. Treasuries since 2009, the Fed’s announcement of its intent to start to taper those activities should have been met with more of a reaction by the Treasury market. ...

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