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July 19th, 2012
September 30-Year Bonds sold off during the initial morning hours as US equity markets rallied on positive corporate earnings. An uptick in US economic readings in previous sessions and sentiment shifts in equity and commodity markets led some corners of the market to believe the economic was recovering. The Bond market recovered from its morning low in response to larger than anticipated jump in Initial Jobless Claims and turned toward unchanged levels after disappointing US existing homes sales data. Some traders also suggested that this morning’s soft economic readings could bolster the chances for more Fed movement in offering more support.
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