Bond Market Regime Change: AAA Monthly Returns 1919-2004 Percent (%)
10
M oody's AAA M onthly Returns
6-13-2003 X
6
2
-2
-6
-10 1919 1924 1929 1934 1939 1944 1949 1954 1959 1964 1969 1974 1979 1984 1989 1994 1999 2004
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