Most analysts and economists believe the Federal Reserve Board is practically compelled to do something to help boost the economy when it meets later this month. If and when the Fed makes a move, it will likely have a negative impact on bond funds.

S&P analyst Michael Souers said whether the Fed decides to implement some version of a third quantitative easing program, QE3, or another measure dubbed “Operation Twist” --which would the Fed trading short-term securities for long-term securities -- reverberations will be felt on Wall Street and on Main Street.

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