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Wall Street drifts, as even bond yields slow their rise

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Some of the biggest action has been in the bond market, where expectations for increased federal borrowing, economic growth and inflation have pushed longer-term Treasury yields to their highest levels since last spring.

The yield on the 10-year Treasury slowed its ascent, though, and dipped to 1.10 per cent from 1.12 per cent late Tuesday. Analysts said statements from two Federal Reserve officials a day earlier helped to calm concerns that it may curtail its purchases of Treasurys. Those…



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