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M*: Vanguard Finally Says It Will Launch International-Bond Funds
Vanguard has a research report (from January 2011) explaining the rationale for international bonds and why they are currency hedged: http://www.vanguard.com/pdf/icrifi.pdf
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http://blogs.barrons.com/focusonfunds/2011/10/31/vanguard-finally-moves-into-international-bond-funds-etfs/?mod=yahoobarrons