INFORMA: Treasury trading was choppy for the most part on Wednesday. Early data was mixed, but on balance as the Fed remains in the picture and inflation is contained, more curve flattening trades were entered. Early buying was in 10-years and bonds by Mid-east players, in addition to Asian retail buying. Profit-taking on the long-end, linked to a West Coast player halted further flattening. The Fed's Beige Book report, however, still showed contained inflation and moved prices back into positive territory.
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