Comments on Piazzesi and Schneider's "Bond Positions, Expectations, and the Yield Curve"

Jon Faust
Working Paper 2008-4
February 2008

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This working paper comments on Monika Piazzesi and Martin Schneider's "Bond Positions, Expectations, and the Yield Curve," delivered at the Fiscal Policy and Monetary/Fiscal Policy Interactions conference held at the Atlanta Fed on April 19–20, 2007.

Key words: expectations, surveys, interest rates, portfolio choice, asset positions, term structure, yield curve

The views expressed here are the author's and not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System. Any remaining errors are the author's responsibility.

Please address questions regarding content to Jon Faust, Director, Center for Financial Economics and Economics Department, Johns Hopkins University, 3400 N. Charles Street, Baltimore, MD 21218, 410-516-7614,

For further information, contact the Public Affairs Department, Federal Reserve Bank of Atlanta, 1000 Peachtree Street, N.E., Atlanta, Georgia 30309-4470, 404-498-8020.