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Thursday, December 6, 2007

Treasurys fall as hopes of mortgage fix lift stocks

December 6 2007
Treasurys fell Thursday, sending yields higher as the Bush administration's plan to help homeowners with subprime mortgages helped lift stocks and removed safe-haven flows in government bonds. President Bush and Treasury Secretary Henry Paulson announced a plan to help struggling homeowners avoid losing their properties, including a temporary freeze on low, introductory mortgage
-interest rates that would otherwise jump higher in the next few years. Hopes that the plan will help cushion the ailing U.S. economy and ease a credit crisis linked to bad home loans helped lift the Dow Jones Industrial Average.

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