SAFT ON WEALTH-Careful how you front-run the Fed

April 1, 2015 9:42 PM

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April 1 (Reuters) - Investors see the Federal Reserve the way bond desks tend to view small clients from the sticks: as easy marks and reliable sources of profit.

Front-running the U.S. central bank has been a great and profitable strategy, but, if interest rates really are to rise, it may prove one of those trades that pays and pays until it produces a ruinous drawdown.

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