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Treasuries Drop in Longest Losing Streak Since 2006

Treasuries pared losses, pushing benchmark 10-year note yields down from the highest level in more than four months, as technical indicators suggested government securities may have plunged too far, too fast.

U.S. government debt slumped the most in a two-day period since October after the Federal Reserve raised its assessment of the U.S. economy on March 13 and said strains in global financial markets have eased. The Fed bought $4.03 billion of Treasuries today in a program to lower borrowing costs.