Treasuries End Higher

Yields fell as a stellar 10-year note auction led to a short squeeze

From Informa Global Markets: Treasuries held a bid most of the session, but the stellar 10-year note sale led to a short squeeze. Treasuries popped on softer retail sales.

The auction results were shockingly good. A short covering rally ensued as dealers chased what they missed in the auction. The front end was boosted by the Wachovia CMBS pricing.

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