Treasuries End Higher
The rebound continued Wednesday, with Treasuries chugging higher as asset allocation trumped a fresh round of supply. Stocks tumbled out of bed as investor complacency gave way to profit-taking, though the dollar remained fairly stable over the session. One large shop was heard selling S&P futures as well. News that the New York Federal Housing Loan Bank branch cancelled some dividend payments due to "credit risk issues" sparked some safe haven buying, though credit spreads generally narrowed.
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