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That's the power of global connections, Merrill Lynch Pierce Fenner and Smith, Inc. Member SIPC. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura.

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Carl Weinberg joins us now, chief economist at high frequency economics and Carl I read your notes regularly

and with great interest and you wrote in a recent one here every country in this edition

of your global outlook boils down to a discussion of yield curve prospects.

This is the overarching theme here.

Absolutely, absolutely.

I mean, we have quantitative easing issues in Europe.

The ECB is out of sovereign bonds to buy.

That's a problem.

Negative bond yields are unnatural and without the support of ECB buying.

I don't think they can persist.

In the UK we have everywhere. We have rising inflation concerns, although there really aren't inflation figures out there at the core that suggest there's an inflation problem.

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