COMMENTARY Bonds rallied vigorously in the wake of new data showing the economy growing less rapidly than expected. The yield on 30-year Treasuries fell to its lowest level in more than seven weeks. Not surprisingly, stocks staged a nifty advance, with the Dow industrials up more than 70 points for the week and the S&P 500 gaining even more on a percentage basis. Even the dollar rallied, rising a bit past 100 yen. Foreign stocks were strong, with London and Tokyo jumping 2.5%.
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