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June 18th, 2012
The Treasury market waffled around both sides of unchanged but generally favored the upward tilt throughout the trading session. Clearly Treasuries need a high level of anxiety toward the Euro zone situation to maintain pricing above the recent highs. While US economic data today wasn’t overly impressive it avoid contracting and that might have dampened expectations for US easing later this week. However, some sources suggest that the Greek government much form a government quickly and it must show its intention to follow EU guidelines or there could be a showdown before the end of this week and that argument alone is likely to keep Treasuries well supported directly ahead.
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