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NEW YORK (AP) - Treasury prices closed mixed Friday after wary investors bought shorter-term notes as a hedge against economic and political risks, but sold long-term bonds on inflation worries.
Treasurys of all maturities were higher most of the session. But late in the afternoon, the 30-year long bond sold off after new reports quoted Dallas Federal Reserve President Richard Fisher as saying he is hearing more concern about rising price pressures.
Inflation signs often lead traders to sell the long bond to send its yield higher because it erodes the value of fixed-income securities.
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