Treasuries Finish Mostly Lower
Friday's trading activity was dominated by month-end and quarter-end flows, which culminated in long bond outperformance for the day and the week. The 30-year continued to benefit from index buying and unwinding of curve steepeners. While the short end of the curve slumped on stronger than expected data and the weight of 2% gains on Wall Street, the bond closed up 1/8th point to yield 5.426%. Over the week the bond shed 16 basis points in yield, compared to 2 basispoints on the 2-year, to narrow the two-year note and 30-year bond curve by 10 basis points.
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