S&P MARKETSCOPE: Long-dated treasuries were higher on Friday as trades aimed at flattening the yield curve. 2-year, 3-year, and 5-year notes were down slightly. There was little reaction to economic data: an upward revision in fourth-quarter GDP to 3.8% met expectations. A 0.1% decline in January existing home sales disappointed, but this incorporates an upward revision in December to 2.4% growth from a 3.3% fall. Bond trading reported as quiet ahead of weekend.
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