"Bonds of all kinds took a beating over the last few months — ever since Ben Bernanke began hinting he would launch another “quantitative easing” money-printing program.
Ben was true to his word. And the QE2 program was announced on November 3. Interest rates shot up in the following weeks. That was bad news both for individual bondholders and bond exchange traded funds (ETFs)..."
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http://www.marketoracle.co.uk/Article25206.html
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