Forex | Forex | Overflow buying from yesterday's 7-year note auction (31/07/2009 21:25:51)

Overflow buying from yesterday's 7-year note auction

Economic data was mixed and equities held their ground but Treasuries managed to muster up enough momentum to stage an impressive rally. It seems as though the short squeeze has begun...and seasonal strength may eventually take this rally much higher than many are anticipating. The second quarter advanced GDP was reported as being better than expected at a negative 1%. Most were looking for a draw of 1.5%, but it was a downward revision in the first quarter figure that prompted bond buying.


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