Treasuries Move Higher on Weak Data

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The 10-year Treasury note overcame early weakness Tuesday to soar 16/32 to 102-04/32 for a yield of 4.612% as Chicago PMI index amd Consumer Confidence index data weaker than expected. Few obsevers are looking to see much strength in tomorrow's ISM or Construction Spending data. Thus, the pressure is off the Federal Reserve to tighten interest rates.

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