Post-FOMC Announcement Drift in U.S. Bond Markets
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The sensitivity of long-term rates to short-term rates represents a puzzle for standard macro-finance models. Post-FOMC announcement drift in Treasury markets after Federal Funds target changes contributes to the excess sensitivity of long rates. Mutual fund investors respond to the salience of
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美国国家经济研究局创建时间：
2018-10-01
