Treasuries Pare Gains After Spanish Banks Stress Test Results

Treasuries pared gains after a report showed Spain’s banks have a combined capital shortfall of 59.3 billion euros, less than some traders speculated.

``It's the realization that it wasn't as bad as expected,'' said Jason Rogan, director of U.S. government trading at Guggenheim Partners LLC, a New York-based brokerage for institutional investors, ``There were early rumors circulating that it could be as much as 150 billion euros.''

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

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