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July 9th, 2012
Treasury prices forged another distinct upside breakout today as a combination of ongoing global slowing fears, persistent European debt issues and bearish equity market action gave the Treasury bulls a distinct flight to quality vibe. While the US scheduled data wasn’t 1st or 2nd tier data, the Conference Board employment figures did suggest some slowing of the US economy. While the Treasury market might has seen some hold back from rising food inflation fears, the trade might have seen some inflation fears tamped down in the wake of Chinese inflation readings that were released overnight.
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