Long Bond Skids as U.S. Picks Up Recovery Tab
Bond bulls were turned on their head Tuesday as fiscal concerns conspired with a rebound in the Dow to push the yield on the 30-year bond back above 5.50%. The long bond lost over two points intraday with the yield climbing over 15 basis points on the session, as a result of expectations of fiscal profligacy, forced selling by insurance companies and a rebound in the Dow.
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