Bonds Move Higher on Friendly Data

Treasuries lagged initially, then rallied hard until some profit taking set in

Right out of the gate Wednesday, tempered U.S. data put the markets in good spirits. News that core CPI rose merely 0.1% and softer IP data helped send the oversold Nasdaq up 5% to test its 2767 50-day moving average along with a better batch of tech earnings announcements and Intel's plans to boost capex 12% this year.

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