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July 17th, 2012
September 30-Year Bonds registered a lower low on the session, but managed to bounce back toward unchanged levels after Bernanke offered little fresh clues on further quantitative easing. It seemed that market sentiment came into the early morning trade expecting more detail from the Fed, but when none was given, most risk assets gave up earlier gains. The September 30-Year Bond fell back toward their low of the session when equities turned back into positive territory during the later morning hours. Perhaps ideas that more QE might be slower to come then expected, as well as a modest improvement in US economic data this morning inspired a round of profit-taking.
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