She predicts yields on the 10-year will rise as high as 2% by the end of the 2006 fiscal year end March. These securities havenÆt yielded higher than 1.6% for the past six years but yields finally began to nudge upward in April, when the government first declared the end to its æquantitative easingÆ strategy of zero interest rates, designed to combat deflation.
She bases that on the assumption that the uncollateralised overnight call rate the ON, JapanÆs equivalent to the US federal funds rate will...
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