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July 12th, 2012
US Treasuries traded higher throughout the morning hours, but gains at the longer end of the curve were contained by yesterday’s high. Early support for the Bond market comes from weakness in global equity markets and worries over slowing economic growth. Prices across the curve sold off to their lows of the morning in the wake of Initial Jobless Claims data that came in better than expected and to their lowest level in four years. The US Treasury wraps up this week’s issuance with a $13 billion 30-Year Bond auction. Expectations are for the yield on the Bond to register a new record low yield of around 2.58%.
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