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February 17th, 2012
US Treasury markets established lower lows during the morning hours but were confined to relatively tight trading ranges. Higher global equity markets and optimism surrounding a potential Greek rescue package next week zapped the safe-haven appeal of the bond market. Some traders indicated they saw signs of cash market buying in 10-Year Notes now that yields have crept back above the 2.0% handle. This morning’s flow of US economic data came in about as expected and did little to push the market either way.
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