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Treasuries Gain on Greenspan Comments, Stock Reversal

Treasuries, which had faltered at the outset, turned higher on Greenspan comments that he sees lower inflation, suggests he sees no need to increase rates soon, sees moderate growth. The market had anticipated he would be more bearish. The sudden, swift plunge in equities in the afternoon gave Treasuries an added lift, especailly to the short end of the yield curve.

The Aging of Abercrombie & Fitch
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