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January 26, 2012

Fed promise boosts stocks

By DANIEL WAGNER
AP Business Writer

The stock market bounced to its highest close since last spring Wednesday after the Federal Reserve pledged to keep interest rates near zero for almost three more years.

Bond yields dropped sharply, then climbed back later in the day when investors began looking more closely into the Fed's deliberations. The yield on the five-year Treasury note touched an all-time low.


 
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