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Taper tantrum haunts Yellen as rate rise approaches

Fed officials fret that bond yields near record lows will surge once rates are raised

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GETTING READY: Ms Yellen has already sounded warning signals. Responding to questions at a May 6 forum in Washington, she said that both stocks and bonds are richly valued.

Washington

JANET Yellen is haunted by the taper tantrum as the Federal Reserve lays the groundwork for its first interest rate increase in almost a decade.

The Fed chair and her colleagues are fretting that bond yields near record lows could surge once the Fed starts raising rates