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January 24th, 2012
US Treasury markets grinded mostly lower during the morning hours, despite concerns that Greek debt swap talks had stalled. Some traders indicated that the two primary forces weighing on Treasury prices were this morning’s Richmond Fed manufacturing data that came in better then expected and today’s $35 billion 2-Year Note auction. There also seemed to be a level of uncertainty surrounding the Fed’s 2-day policy meeting and the new release of members’ interest rate forecasts. Heading into the noon hour, March 30-Year bonds were trading just above their low of the session and inside of yesterday’s range.
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