Mid-Session Interest Rate and Treasuries Report

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August  28th, 2012

September 30-Year Bonds broke out to their highest level since August 7th. Support for the market came on talk that Spain’s Catalonia was closer to requesting financial support, and that seemed to fuel a safety bid for government debt. This morning’s US economic data on August Consumer Confidence showed a weaker than expected result, that that pushed Treasury prices to their high of the session. Some traders were waiting for today’s $35 billion 2-Year Note auction for a fresh gauge on demand. Expectations that the US Fed might offer clues on another round of quantitative easing at this week’s Jackson Hole meeting has offered a measure of support.
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