A productivity update, five-year note auction, Greenspan's early retirement talk and Fed comments vied for attention in a drowsy Tuesday session. The curve flattened initially on the welcome news that Q2 Nonfarm productivity rose 2.5% and annual back revisions were not unexpectedly onerous on the downside, with the bond outperforming. But, following a bout buying by a commodity broker, the September bond stalled after breaking through Friday's 103-08 top and then conceded its gains into the auction.
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