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Bond Market Contemplates the Pros and Cons of Lower Oil Prices
The bond market meandered again today. With no market-moving economic indicators on the docket, traders waited for direction from the energy markets, which in turn waited for the outcome of the OPEC meeting in Vienna.
"It's just so dead. All eyes are on OPEC," said Kevin McKenna, head of taxable money-market funds at Merrill Lynch Asset Management.
The oil-producing countries reportedly drew close to an agreement to increase export limits by about 1.7 million barrels a day. ...
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