Comment: The 'yield conundrum' revisited

Fed chairman, Ben Bernanke, made it clear in a speech earlier this week that he is no closer than his predecessor, Alan Greenspan, to making sense of the 'yield conundrum'.

COMMENT BY CENTRALBANKNEWS

With the bond market seemingly distorted by a host of factors, the yield curve may have, for the time being at least, lost its relevance as a policy signal.

A little over a year ago Greenspan described the stubborn lack of adjustment in the yields on long-dated bonds as a "conundrum without historical

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