(Reuters) - "The market is braced for pretty strong data, given the
move that we've had and a lot of long positions have been
liquidated," said Wan Chong Kung, senior fixed-income portfolio
manager at First American Funds in Minneapolis.
The benchmark 10-year Treasury note's yield hit a
nine-month high on Thursday above 4.92 percent after an
surprisingly strong reading of Midwest business activity for
May slashed the chance of even a single Federal Reserve rate
cut in 2007.
Read more at Reuters.com Bonds News
move that we've had and a lot of long positions have been
liquidated," said Wan Chong Kung, senior fixed-income portfolio
manager at First American Funds in Minneapolis.
The benchmark 10-year Treasury note's yield hit a
nine-month high on Thursday above 4.92 percent after an
surprisingly strong reading of Midwest business activity for
May slashed the chance of even a single Federal Reserve rate
cut in 2007.
Read more at Reuters.com Bonds News
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