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NEW YORK (AP) - Bonds fell Wednesday, as investors shrugged off a strong 10-year note auction.
The decent auction result did little to alter an overall bearish tone among Treasurys investors, who feel beset by new supply, continued strong economic data and rising odds of a 5 percent federal funds rate by May. The fed funds rate is currently at 4.50 percent.
The two-year's yield remained above that on the 10-year note, keeping the benchmark yield curve, which plots this gap, inverted.
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