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Yields fall; traders hope for end to US shutdown crisis

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U.S. Treasury yields moved lower on Wednesday after the Senate announced a last-minute deal to reopen the government.

The U.S. Senate announced a deal to avert a historic lapse in the government's borrowing ability and a potentially damaging debt default, and to reopen the government after a two-week shutdown.

(Read more: Reid: Deal reached on ceiling, shutdown—for now)

But even if the Senate and House of Representatives manage to overcome procedural hurdles to seal the deal before Thursday— when the Treasury says it will exhaust its borrowing authority— it will only be a temporary solution that sets up the prospect of another showdown early next year.

Benchmark 10-year notes traded 15/32 higher to yield 2.68 percent. Thirty-year bonds extended price gains to a point, yields drop to 3.73 percent.

—By Reuters.

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