The 10-year Treasury note rebounded from a steep slide, supported by news that Bank of Japan would start buying dollars and U.S. debt. Both Asian and European retail did most of the buying today. The 10-year closed at 100 19/32, up 8/32. Its yield was at 4.17%. Treasury action was option related, as players adjusted ahead of option expiry on Friday. Many option positions were being adjusted ahead of what is expected to be a thin market as a result of the Thanksgiving holiday.
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