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April 3rd, 2012
Treasury prices forged a rather wide trading range today but the market spent a lot of time tracking in positive ground. Surprisingly the Treasury market wasn’t undermined by definitive gains in US equities perhaps because the macro economic look got off to a soft start with a weaker than expected US Construction Spending result Later in the session Treasuries were knocked around by suggestions from a Fed member that the Fed had already provided enough support for the economy. In fact, Treasuries even managed to hold in positive ground despite suggestions from the Fed that many US businesses were poised to grow. All things considered Treasuries must have held out some hope for flight to quality buying off weaker than expected Euro zone and French data.
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