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Nothing has been setting the US bond market’s direction this year more than the monthly inflation figures. This week will be no exception. The release of the April consumer-price index on Wednesday is poised to provide the biggest test yet of the rally that started this month when Federal Reserve Chair Jerome Powell swatted away worries that the central ...
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There are certain names that echo down from the history of finance and economics. Adam Smith is one. Milton Friedman is another. So does the British economist John Maynard Keynes. Keynes’ was, and famously remains, an advocate of government deficit spending in a recession. It’s hard to imagine now how radical this position was in the decade before the ...