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