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July 20th, 2012
US Treasury markets trended higher throughout the session, with September 10-Year Notes and 30-Year climbing toward their highs of the weak. Fresh concerns over the European debt situation sparked a rebound in flight-to-quality buying. This comes after another Spanish region asked for financial support. There were also reports that the ECB was going to stop taking Greek debt as collateral, and that added to the risk-off tone this morning. Some traders indicated that Thursday’s flow of soft US economic data also seemed to support the case for another round of Fed quantitative easing.
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