Markets respond positively as Bernanke says US is ready to act

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Federal Reserve chairman Ben Bernanke has said the US is ready to act if further monetary policy supportive measures are required to shore up the country's economy.

Bernanke said that "the recent economic weakness may prove more persistent than expected" and if deflationary risks re-emerged, "implying a need for additional policy support… we have a number of ways in which we could act to ease financial conditions further".

The yield on ten-year US treasuries gained 1.89% on Wednesday, trading at

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