Treasuries Finish Lower
Malingering at recent lows, Treasuries rounded out the week in negative territory. Yields continue to back higher, though most futures contracts bubbled back up to the surface by the close. Volume was well bid on the early test lower, more so as miserly trading volumes kept dealers on their toes. Prices opened heavily at the front-end and belly of the curve after some leveraged Bund and Euribor selling overnight and ahead of the pricing of $10 billion Fannie Mae issue of five-year notes and 10-year notes.
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