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The main point of this paper is that to show a relationship between U.S. treasury (interest rates) on global markets. Let me start out by stating that my understanding of financial markets is limited so I feel like I was unable to grasp all that this paper has to offer. I don’t know much I believe Eichengreen’s and Mody’s argument as I feel they are looking to find causation in an area where there may just be correlation. On several occasions in class we have discussed how two issues (such as women’s empowerment and economic development) can be a function of each other. I think that interest rates and global financial markets may have a similar relationship.

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