Roger,
Spot on with your succinct summary (to think it took me almost two years and a whole lot of tuition fees to come to the same conclusion!).
I'll just add one last bit of sanctimonious economic smugness: the causal linkage factor between equity prices and bond yields is underlying economic performance.
Instead of sending my kids off to some expensive economic thinktank university, I think I'll just let them spend a few hours a week shooting the breeze on Hot Copper.
Cam
hands up whos in for consolidation, page-26
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