Treasuries End Higher
Bonds ended mostly higher, reversing Thursday's losses, as investors flocked to safety after President Bush's speech Thursday night about the prospects for combat. Investors were concerned about intensive anti-terrorist military strikes against the Taliban as well as more signs of economic carnage from Corporate America. Investors bid down yields on five-year notes in anticipation the Fed will cut a half-percentage point cut in the benchmark overnight rate to 3% with another reduction at the FOMC meeting on Oct. 2, in a bid to stave off recession.
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