On Friday, New York Fed president William Dudley described the current growth and unemployment outlook as “unacceptable” prompting fears that the likelihood for further intervention in the form of quantitative easing was intensifying. As a result, two-year treasury yields fell to a record low yield of 0.3987 percent and ten-year yields declined 3 basis points to 2.48 percent as of 7:30 a.m. in New York.
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