MARKETSCOPE: Treasuries closed down Monday, as the bond market priced in a hawkish tone by the Fed regarding inflation, ahead of the two-day FOMC meeting that will wrap up Wednesday.... 10-year note fell 05/32 to 97-30/32 for a yield of 4.89%... 30-year bond slid 09/32 to 92-17/32 for a yield of 4.99%... Recent firm economic data have supported sentiment that the Fed will keep its bias toward either leaving the federal funds rate target unchanged at 5.25% or possibly raising it; this is a far cry from prior speculation that the Fed would lower interest rates... There were no economic reports or speeches from Fed officials today to influence market direction... Equities were trading mixed as the bond market closed.
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