Treasuries Advance as Producer Prices Fall
A number of yield milestones were hit this week, after dispiriting data and a somber Beige Book report helped the curve wade through the $27 billion Treasury refunding and the rising tide of corporate issuance. Two-year yields probed 1993 lows below 3.7% after breaking back below Fed funds at 3.75% and Oct 1998 3.77% crisis lows.
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