Treasuries Finish Higher
A very jittery Treasury market gained ground Tuesday as escalating Middle East maintained a safe-haven bid in bonds. While shorter dated instruments initially led the rally in a classical flight to quality trade, the long end eventually picked up steam and finished the session nearly a point higher. Outperformance in the short end further widened the coupon curve another four basis points to 215 basis points. That action came despite of the Treasury's announcement of $46 billion in cash management bills.
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