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We examine the two-lead Kondo model for a d.c. biased quantum dot in the Coulomb blockade regime. From perturbative calculations of the magnetic susceptibility, we show that the problem retains its strong-coupling nature, even at bias voltages larger than the equilibrium Kondo temperature. We give a speculative discussion of the nature of the renormalization group flows and the strong-coupling state that emerges at large voltage bias.

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