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Double dip or double up?
June 2010
The doomsayers have sent the bulls running for the hills. The double dip theory has hit the mainstream as bearish sentiment dominates the media. Just in the last ten days of June, stocks plunged nearly 8%, housing data deteriorated further, and US government bonds rallied dramatically. As at month end, US ten year bonds closed at 2.93%, the lowest level in over a year. Similarly, US two year bonds closed the month at an astounding 0.60%, the lowest yield ever.
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