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August 24th, 2012
September 30-Year Bonds traded higher during the initial morning hours, climbing to their highest level since August 13th. This morning’s US economic data showed a larger than expected jump in July Durable Goods Orders, but that optimism was partially offset by a larger than expected decline in core capital good orders. This helped rally the Treasury market to their best level of the morning. During the later morning hours, headlines broke that the ECB might be considering setting yield band targets on sovereign debt, and that seemed to check the early flight to quality bid. Heading into the mid-session, September Bonds were trading around unchanged levels.
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