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Invest with the Fed: Maximizing Portfolio Performance by Following Federal Reserve Policy by Luis Garcia-Feijoo, Gerald R. Jensen, Robert R. Johnson

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CHAPTER 8

FIXED-INCOME SECURITIES

These days, with firms such as Google and Apple, everyone takes dynamism for granted. But Mike Milken started out in the 1970s when capitalism was struggling. In those days, there was very little innovation. Along comes Drexel, a firm with a visionary purpose, and suddenly you could get capital.

Kenneth Moelis, head of the investment bank Moelis & Company1

In Chapter 1 we considered the performance of two traditional fixed-income securities—long-term Treasury bonds (T-bonds) and short-term Treasury bills (T-bills)—across the three monetary environments. In this chapter we provide a much more thorough analysis of the fixed-income market by considering a broad spectrum of fixed-income securities. We consider bonds ...

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