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  • QE (quantitative easing) has to die sometime.Just like Mother Nature, death and creative destruction seem to be part of the Grand Economic Scheme.What matters most for bond and other investors though is not timing of the taper nor the endpoint of QE, but the policy rate: 1) how long it stays where it is, 2) what is the long-term neutral rate in a highly levered economy and 3) can a chastened centr
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