Normally, a rumor that the Commerce Department will report stronger-than-expected growth for the second quarter would drag the bond market down, but not in yesterday's currency-driven session.

Most economists expect the government to report today that the nation's gross domestic product grew 3.5% to 3.8% in the second quarter. But rumors circulating yesterday that the number will be as high as 6% pushed up the dollar against the yen. The higher second quarter growth rate could force the Federal Reserve Board to again raise short-term interest rates, bolstering the U.S. currency.

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