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SAN DIMAS, Calif. — Despite gloomy forecasts about the economy and continued sub-prime fallout, executives attending yesterday’s Southern California/Arizona CUES council event yesterday had something to cheer about: predictions of a return to a steep yield curve.

When Bob Burrell, WesCorp’s executive vice president/chief investment officer, told the CUES crowd they might see loan yields return to spreads as high 200 basis points, he literally drew cheers. Burrell said he expects the Fed rate to drop to around 2.5% and stay there for most of the year, but he wouldn’t be surprised to see it drop to 2%.

 

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