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Article: Prices close with minor gains as traders await Bush's speech. (Treasury Market) (Column)
- Article from:
- The Bond Buyer
- Article date:
- August 20, 1992
- Author:
CopyrightCOPYRIGHT 1992 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Treasury prices traded quietly within narrow ranges yesterday as participants waited to hear President Bush's acceptance speech tonight.
After posting small losses for most of the day, long-term prices managed to close with small gains, based in part on a wire service report that said the President will not propose major tax cuts in his speech.
Late yesterday, most Treasury notes and bonds were posting slight gains, and the 30-year bond was up 1/8 point to yield 7.31%.
Ever since White House Chief of Staff James Baker mentioned making lower tax rates a part of the Republican campaign strategy last week, Treasury traders have worried the ...