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Wall Street whipped by resilient treasuries

Primary dealers hurting after going net short on government debt for the first time since September 2011

BETTING against US government debt this year is turning out to be a fool's errand. Just ask Wall Street's biggest bond dealers. While the losses that their economists predicted have yet to materialise, JPMorgan Chase & Co, Citigroup Inc and the 20 other firms that trade with the Federal...