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The yield on 10-year Treasury notes fell 30 basis points during the first three months of 2004, then sharply rose 90 basis points coinciding with a pickup in the core consumer price index and strong job growth for several months. The core consumer price index (CPI) rose about 2 percent last year after having increased 1 1/4 percent in 2003. That was in sharp contrast to the large increases in the core consumer price index in both March and April. |
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