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...agreement - think of it as a financial trade - the U.S. would buy an option to require China to lower its emissions below a certain agreed level. At the same time, Beijing would take out what amounts to an insurance policy to establish a minimum amount that Washington would pay Beijing if or when the U.S. exercised its option. The cost of Beijing's insurance policy and the cost to the U.S. of exercising its option on China's emissions levels would be set at roughly the same price...
Right now the interest rate on a 10-year Treasury bond is about 3.5%. That could go lower - in fact, it did go lower at the height of the panic last fall, to just above 2%. But the likeliest future path for Treasury yields, Atteberry figures - on the basis of history and the fact that rates have been kept low this year by Federal Reserve purchases, investor demand and other factors - is up. If you own a 10-year Treasury bond yielding 3.5%, interest rates rising to 4% or 5% or higher mean your bond (with its rate stuck...
Atteberry is hoping to navigate the minefield ahead by holding only bonds that come due soon, which are less sensitive to changes in interest rates (but also have a lower yield than longer-dated bonds). He may ask FPA New Income's board for permission to increase the fund's limit on foreign bond holdings from its current 10%. And he has positive things to say about the inflation-indexed bonds that Treasury has issued since 1997, although he doesn't think they're a particularly good deal...
Moore acknowledges that there is also some intriguing data suggesting that diet itself may have a profound effect on behavior. A University of Oxford researcher recently published controversial findings hinting that prisoners who were fed vitamin supplements - and therefore presumably getting well-balanced nutrition - had lower rates of disciplinary events and aggressive outbursts than a control group who were given placebo pills. While the association is preliminary, says Moore, "I think looking at diet is a fairly novel way to think of behavior over the life course...
They determined that the third lumbar vertebra that women have (but men do not) allows them to bend from the lower back in order to stay balanced with a swelling belly and higher center of gravity...