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July 27th, 2012
US Treasury markets traded sharply lower following this morning’s second quarter GDP data. While the reading was in line with expectations, it was not quite as bad as some traders feared. This seemed to take some of the pressure off the Fed to provide more monetary stimulus next week. Additionally, risk-taking sentiment drafted support from further signs that European leaders, in concert with the ECB, could extend their bond buying program. This pressured September 30-Year Bonds to a new five session low and 10-Year Notes to their lowest level since July 6th.
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