Treasuries Dip as Equity Gains Continue
Fixed income players are clearly giving more credence to 200 basis points' worth of stimulus from the Fed this year, with a vicious curve steepener gaining pace with the continued recovery of equities on Thursday. Capitulation of prices at the long-end of the curve initially contrasted with gains at the front-end, but the June and cash bond fell over 1-1/2 points by the end of trade and dragged the front-end underwater with them.
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