Treasuries Sink on Claims Data Rumor
After peaking early, Treasuries came under renewed selling pressure on Wednesday with a day to go before Greenspan's economic speech and then payrolls on Friday. The refunding announcement was a pleasant surprise, coming in shy of expectations, but this merely gave dealers better levels to go short after the initial bounce. The Treasury tabled a $57 billion package consisting of $24 billion 3-year notes, $16 billion 5-year notes and $17 billion 10-year notes that will be auctioned off next week.
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