Flows this week moved down in coupon as investors added duration on the strong flight-to-safety bid. They also responded to faster-than-expected Home Affordable Refinance Program (HARP) refinancing activity in April. 

Socialist party wins in various elections in Europe, including Greece and France, sent Treasurys higher with the 10-year note yield dipping to 1.835% by midweek from 1.88% on Friday May 4, with prices on 3.5% through 5.0% coupons recording new record highs. 

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