Sunday, 4 July 2010

Going broke the Morgan Stanley way

Consider this pearl of wisdom from that giant of international finance Morgan Stanley:
There was the bank's crash hot economic advisory team at the beginning of this year warning its clients that 10-year US Treasury yields will rise to 5.5% during the second half of 2010. So how would we have fared if we had taken this wonderful advice?
Lost a squillion actually. The rate has dropped from 3.82% on the 7 January publication date to 2.97% at close of business last Friday.
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