Investors wait to hear from Yellen

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Bill O’Donnell, RBS US government bond strategist, tells Michael Mackenzie, the FT’s US markets editor, that there is a chance that Janet Yellen, Barack Obama’s pick for the next Federal Reserve chair, has “no love for” quantitative easing and there is a risk that if she takes a “dovish, more centrist path” the market would not be prepared.

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