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March 13th, 2012
US Treasury markets trended lower throughout the morning hours, pressured by better-than-expected US Retail Sales data, ahead of a $21 billion 10-Year Note auction, and this afternoon’s FOMC meeting results. Some traders indicated that today’s breakdown in June 30-Year Bonds and 10-Year Notes, to their lowest level since February 22nd, appeared to be in anticipation to the Fed’s post meeting comments this afternoon. Many are of the belief that the Fed will not offer any further signs of quantitative easing (at this meeting), especially as US economic data has improved considerably from January.
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