(Reuters) - Bond prices initially extended their early gains after a government report showed an unexpectedly anemic 1.3 percent growth in first-quarter gross domestic product, boosting hopes that the Federal Reserve would lower rates to stimulate the economy.
But the initial buying faded as players shifted their focus to the GDP report's higher-than-expected inflation readings, which caused traders to pare their expectations of Fed rate cuts.
Read more at Reuters.com Bonds News
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