TREASURIES-Prices pare gains on Obama headlines

NEW YORK Fri Dec 28, 2012 11:06am EST

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NEW YORK Dec 28 (Reuters) - U.S. Treasuries pared price gains on Friday after President Barack Obama was reported as saying that he will offer a new budget plan.

Benchmark 10-year notes were last up 7/32 in price to yield 1.71 percent, after earlier falling to 1.70 percent.

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