Long Bonds Gain As Economic Readings Prove Inconclusive; Fed Meeting Tuesday
Longer-dated Treasuries rose Friday as mixed signals on consumers raised doubts about the pace of economic recovery ahead of this week's Federal Reserve policy meeting. Bonds initially fell after the government reported that February retail sales rose despite winter storms that economists figured had kept shoppers at home. Prices rebounded from session lows, however, after a surprising fall in a consumer sentiment index. That report was seen as a
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