Bonds Higher

Treasuries were higher in afternoon trading on Thursday after the release of lower-than-expected Philadelphia Fed

After a weak start on Thursday, the bond market was higher on an unexpected drop in January Philadelphia Fed Index numbers. The Philadelphia Fed Index dropped to 13.2 from 25.4 in December. The drop supported mild gains in Treasuries during afternoon trading, along with a shift out of stocks into bonds, according to Marketscope.

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