Treasuries Ride Weak Data to Higher Ground
The middle of the curve led the charge higher Monday, as yields tumbled further and prices gained, before a late rebound on stocks stole some thunder from Treasuries. Momentum from the Beige Book and PPI last week spilled over and two-year yields eased to within a stone's throw of all-time lows of 3.588%. Meanwhile, some dealers scrambled to not be left behind, should Tuesday's retail data confirm the Beige Book blues.
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