With investors' interest in bonds at record highs, it's worth noting that several factors are bearing on the bond market right now - heightened concerns over geopolitical risks, anticipated increases in U.S. debt, private de-leveraging and a decline in the U.S. dollar, among them.

Perhaps more significantly, President Bush's fiscal stimulus package and its effect upon the national debt not only have held the market's attention, but also, in fact, have sometimes rivaled the uncertainties about war against Iraq.

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