Treasuries End Unchanged
Treasuries ended unchanged. They opened modestly higher, led by weaker German IFO. Foreign retail was on both sides, but profit-taking dominated in Tokyo. Modest selling emerged on the New York open as final first-quarter U.S. gross domestic product rose 3.9%, missing expectations for a rise of 4.4%. However, the PCE deflator revised to up 3.2% from 3.0%, suggesting inflation was rising at faster than expected pace in the first quarter.
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