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NEW YORK (AP) - U.S. Treasury bond prices endured some of their sharpest losses in three years Thursday, as investors slashed exposure to U.S. government bonds amid falling hopes of interest rate cuts and technical selling from the mortgage community and others.
At 5 p.m. EDT, the 10-year Treasury note was down $12.19 per $1,000 in face value, or 1 7/32 point, from its level at 5 p.m. Wednesday. Its yield, which moves in the opposite direction, rose to 5.13 percent from 4.97 percent.
The 30-year bond fell 2 2/32 point. Its yield rose to 5.23 percent from 5.08 percent.
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