112291. Nolan [188.143.232.10] 05 Nov 2015 - 09:44
|
| What's the last date I can post this to to arrive in time for Christmas? generic topiramate weight loss Using month-end data from January 1970 through June of this year (two data points were unavailable, those for March 1972 and May 1976), the spread, or yield difference, between 3-month T-bills and 10-year Treasuries has only been greater than 4% on two occasions and it has typically been around 1.50%. As this is being written, it is 2.78% (Chart 1). While the Fed is indeed likely to taper its bond purchases in the immediate future and may even end them next year, the probability of the Fed raising its policy rate, currently at 0%, prior to the end of next year is extremely low. We would suggest that it is unlikely prior to 2015 and PIMCO has suggested it might not occur until 2016. As such, short-term rates are likely to remain extremely low over the next two years. The widest spread between 3-month T-bills and the 10-year bond occurred in the 3rd quarter of 1982, as short rates plunged from record highs as Fed Chairman Paul Volcker's tightening campaign began to bring inflation under control (Chart 2). With the 3-month T-Bill currently at 0.05%, we can safely rule out a large decline in short rates that will push the spread higher. That means to push the spread to 4% we would need the yield on the 10-year bond to rise just north of 4%. It's hard to see what would push the 10-year yield north of 4%. Inflation remains well anchored as the velocity of money is extremely low, with most of the money the Fed has printed remaining deposited at the Fed in the form of excess bank reserves. More than 82% of the US money supply was on deposit with the Fed as of the end of July. From January of 1959 through the end of 2007, the average was just 6.18%. Economic growth remains weak with the growth in each of the last three quarters below 2% on an annualized basis. Importantly, even as the Fed tapers, declining budget deficits will lead to reduced debt issuance and the Fed's purchases are likely to remain a relatively consistent percentage of issuance over the next six to 12 months. Finally, from 2004 through 2006, when the US economy was in significantly better condition than it is currently, the average yield on the 10-year Treasury was just about 4.50%.
wellbutrin prescription costs Boosting efficiency could provide 30% to 40% of needed carbon reductions while also lowering energy bills for businesses, governments and homes, Stern told reporters. He said there's also plenty of new energy technologies, including tidal power and smaller nuclear power plants, that have emerged since his landmark 2006 "Stern Report," which warned that rising temperatures could cost the world up to 20% of its economic output.
isotretinoin online discount card Before Vanessa Williams was an acclaimed TV star and singer, she became the first African-American woman to win the Miss America pageant in 1984. She was forced to give up her crown when photos of her, which she had taken prior to the competition, appeared in Penthouse magazine.
treating nasal polyps flonase Automatic Renewal Program: Your subscription will continue without interruption for as long as you wish, unless you instruct us otherwise. Your subscription will automatically renew at the end of the term unless you authorize cancellation. Each year, you'll receive a notice and you authorize that your credit/debit card will be charged the annual subscription rate(s). You may cancel at any time during your subscription and receive a full refund on all unsent issues. If your credit/debit card or other billing method can not be charged, we will bill you directly instead.
|
|
|
กระดานข่าว UranianSoft.com