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February 29th, 2012
June 30-Year Bonds ended the session with a wide-range decline to a new 3-day low. After starting out on a higher track this morning, US Treasury markets fell to their low of the session following a better than expected read on US fourth-quarter GDP and a rise in Chicago PMI data that reached its best level in 10-months. June Bonds also came under added pressure following Fed Chairman Bernanke’s testimony in front of Congress that tamped down expectations for another round of quantitative easing. Some traders suggested that the Fed took on a more hawkish tone but offered a mixed view on the US economy. June Bonds spent the rest of the session consolidating earlier losses, within the lower third of the day’s range.
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