Jan 5: ED YARDENI on "bond vigilantes"

Part 1: Ed Yardeni, president of Yardeni Associates, who coined the phrase "bond vigilantes" in the 1980s, talks about market risks in 2010. He says "the biggest risk we have right now for a sustainable recovery in the US" is that bond investors may lose confidence in fiscal and monetary authorities and sell bonds, which could push interest rates up and "slow the economy down appreciably".