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August 7th, 2012
US Treasury markets traded sharply lower throughout the morning session, weighed down by hopes that the ECB is closer to a round of bond buying and as global equity markets rallied. Some traders also indicated that prices came under pressure ahead of today’s $32.0 billion 3-Year Notes auction. The back up in yields ahead of the auction is expected to draw a strong turnout. Meanwhile, September 30-Year Bonds were down nearly 1.0% heading into the mid session, falling to a new four week low in the process.
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