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August 3rd, 2012
Treasury prices were roiled today by a much stronger than anticipated US Non farm payroll tally for the month of July. While strength in the US economy clearly serves to cushion the world against ongoing Euro zone turmoil, it could be difficult to keep Treasury prices down without additional signs of growth from the US in the coming week. In retrospect, the US Fed probably gained some credibility by remaining on hold and that could leave US Treasuries in an even stronger flight to quality mode into the next financial crisis.
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