People at the Bond Market Association's annual meeting said they expect long- and short-term interest rates to be lower a year from now, and most predicted the economic expansion would continue two or more years.

The survey found that nearly half the respondents expect long-term rates to be lower a year from now and 21% expect rates to hold steady.

Similarly, 40% said they believe short-term rates will decline, and 29% expected them to stay at present levels.

About 75% of the survey's respondents said they expect inflation to begin stirring from its current low rate, and 15% said prices would remain stable.

About 10% predicted the consumer price index would decline from the present level.

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