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US Two-Year Note Yield Hits Record Low, Dollar Drops on Concerns Over Growth
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Treasuries rose, sending the two- year yield to a record low, while the dollar slumped versus the yen as weaker-than-estimated U.S. economic growth cast doubt on the strength of the recovery. The Standard & Poor’s 500 Index still capped its best monthly rally in a year.
The two-year note’s yield slumped 3 basis points to 0.5461 percent before paring losses and the dollar fell as much as 1 percent to 85.95 yen, the weakest since November. The S&P 500 rose less than 0.1 percent to 1,101.6 at the 4 p.m. close in New York, reversing a loss of 1.2 percent in the first half hour after gauges of business activity and consumer confidence topped estimates. Oil rose 0.7 percent after an... Full Story |
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Submitted Jul 30, 2010 9:38pm
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