TREASURIES-Bonds widen losses after stronger-than-forecast Q2 GDP
NEW YORK, July 31
NEW YORK, July 31 (Reuters) - U.S. Treasuries prices widened losses on Wednesday after the government reported the U.S. economy unexpectedly accelerated in the second quarter, growing 1.7 percent.
The 30-year Treasury bond briefly expanded its loss to a point, then trimmed the loss to 25/32, leaving its yield at 3.73 percent. The benchmark 10-year Treasury note expanded its loss slightly to 20/32, allowing its yield to rise to 2.69 percent.
The stronger than predicted growth laid a firmer foundation for the rest of the year that could bring the Federal Reserve a step closer to cutting back its monetary stimulus.
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