The 'fog of war' that has surrounded the markets appears to be clearing. The wrangling over who gove...
The 'fog of war' that has surrounded the markets appears to be clearing. The wrangling over who governs Iraq may persist but for cynical financial markets the job seems done ' oil fields are secured, no weapons of mass destruction unleashed and uncertainty has been extinguished. Now we are surely back to fundamentals? Well, yes and no. In reality, the paralysis that this conflict has inflicted upon bond markets had begun to crumble before a bomb was dropped. The sense of gloom had been preyed upon by speculative investors ' the easy trade was to follow the momentum of ever lower interest ...
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