Treasuries Finish Lower
U.S. financial assets collapsed on the aftershock from the weekend G7 meeting and the group's communique calling for a more flexible exchange rate regime. The long bond fell 1.5 points intraday, and stocks lost more than 1% as the final report was more critical of intervention than Friday's leaked draft. Profit taking and outright selling dominated bonds overnight and accelerated during the North American session on speculation of diminished demand for Treasuries from central banks looking to invest intervention dollars.
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