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/CORPORATES: FTN Financial's Jim Vogel......>

US TSYS
US TSYS: /CORPORATES: FTN Financial's Jim Vogel said that "Friday's market
tantrum has subsided, leaving behind no visible damage. Even if something had
been badly broken, it's far more sensible for the US rate market to absorb this
week's core US economic reports for October before charting a new course for
fixed income." 
- He adds that "the biggest question mark left behind is for high yield: Was it
merely a spasm or are 5.5% yields the bottom in this cycle? It is way too early,
whatever the answers for high yield, to extrapolate its rocky month into a
doom/gloom forecast for either rates or equity valuations."

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