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Stocks advance ahead of Fed rate decision
(AP:NEW YORK) Wall Street jockeyed for position Tuesday ahead of the Federal Reserve’s decision on interest rates, which some investors believe will bring the key U.S. rate to the lowest level on record. Stocks rose more than 1 percent, while yields on some U.S. government debt fell to record lows.
Investors uneasy about the economy continued to funnel money into the Treasury market, sending the yield on the 30-year long bond below 3 percent.
Against the fear that has gripped Wall Street since the mid-September bankruptcy of Lehamn Brothers Holdings Inc. and the subsequent freezing of the credit markets most economists are…
16Dec2008 | INO | 0 comments | Continued
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