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Treasury Prices Lower Today
08/23/2011
Treasury prices are moderately lower this morning as overseas selling has carried into today’s trading. Despite bearish overseas economic data, treasury prices are moving lower on speculation that the Fed take steps to stimulate the US economy. Today’s US economic calendar is relatively light with only the July new home sales report due to be released. Sales are expected to remain depressed at 310k versus last month’s level of 312k. Currently, the 10yr yield is at 2.149% (2.113% Monday) and the 2-10 yield spread is at 193 bps, steeper by 2 bps since yesterday morning.
