Stop Worrying About Higher Interest Rates

Interest rates are on the upswing. The benchmark 10-year U.S. Treasury bond reached the 4% mark on Apr. 5, its highest level since October 2008. The yield has since dropped back a fraction below 4%, with investors once again seeking a safe refuge from financial turmoil—this time gnawing concerns that the Greek government will default on its debt. Nevertheless, the trend is toward higher long-term U.S. interest rates.

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