No. of Recommendations: 1
The yield curve has taken on a funny shape. It's mostly positive, but with a dip at 2 to 3 years.

The Fed will probably cut the fed funds rate tomorrow. There is a strong likelihood, with the economy slowing, that continued cuts may follow. The last time the Fed had a cutting campaign, 2002-2005, real rates fell below zero.

With current Treasury rates so low, many of us are probably getting CDs. (Personally, I have cash waiting in Countrywide's 5.5% SavingsLink account, waiting to see whether Pentagon FCU will offer a "special" again, in January 2008.)

Are you extending the duration of your fixed income investments? If so, please describe your program.

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