ES Journal Archive (2009 - 2010)

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" NEW YORK (Dow Jones)--After a year in which making money in fixed income was as easy as the Federal Reserve's monetary policy, asset managers are preparing for a much tougher investment climate.

That's not because policy is about to be tightened - the usual stumbling block for fixed-income buyers. As top Fed officials have stressed, policy is likely to remain loose and rates unusually low for a fairly long time. Rather, the challenge is finding returns in markets that may have already peaked, for portfolios that have enough - in some cases more than enough - exposure to them. Portfolio managers are eyeing the Treasurys market as a potential source of trouble, since it sets the benchmark yields for all types of borrowing..."
 
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