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[$$] U.S. Government Bonds Rally as Europe’s Economy Weakens

U.S. government bonds strengthened Thursday as investors favored safer assets amid growing concerns about Europe’s economy. Yields, which fall when bond prices rise, dropped along with stocks after the European Union cut its forecast for eurozone economic growth to 1.3% in 2019 from its earlier estimate of 1.9%. Disappointing European economic data is “weighing on Treasury yields,” particularly as Federal Reserve officials appear increasingly worried that slowing growth abroad could drag on the U.S., said Brian Daingerfield, macro strategist at NatWest Markets.