Alan Greenspan Suggests Bond Investors Take Philosophical Approach To Bubble

Ask yourselves, what even is a bubble, really?
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Alan Greenspan has a warning for bond investors as the U.S. central bank prepares to raise its benchmark interest rate from close to zero. “We have a pending bond market bubble,” the former Federal Reserve chairman said Monday in an interview with Bloomberg. “What ultimately will determine where it goes is to reach back and to ask ourselves where is the normal interest rate?” [Bloomberg]

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