Bonds Rally Amid Threats in Middle East
Treasuries posted a surprising rally on Friday with the September bond closing up nearly a point, albeit in fairly thin conditions. What was supposed to be a quiet range trade as players positioned for the upcoming FOMC meeting turned out to be anything but, as a combination of curve flattening trades, weakness in stocks, a safe haven bid, technicals, and short covering all combined to boost prices sharply, especially into the close.
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