``There is just a very good bid for Treasuries,'' said Paul Calvetti, head of proprietary Treasury trading at Barclays Capital Inc. in New York. ``They are definitely fundamentally rich, but this situation could persist.''
Concern that the 10-year note was too expensive led Barclays debt strategists on May 13 to recommend ``an outright short'' position, or bets against a further increase in the notes.
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