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Article posted: 12/16/2012 4:10 PM

Could a budget fight rattle the bond market?

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Most on Wall Street are confident congressional Republicans and the White House will stave off the full "fiscal cliff" because the stakes are so high. Economists say the tax hikes and spending cuts could trigger a recession early next year.

ASSOCIATED PRESS

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Long-term interest rates will creep higher, as the economy gradually gains strength, says Priya Misra, a top investment strategist at Bank of America Merrill Lynch. The wild card is Washington, where talks are under way to avert tax increases and government spending cuts scheduled to start in January.
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