The successful completion of the huge Treasury auction yesterday eased the market's technical fears, but municiplas again lagged governments with prices up only 1/8 to 3/8 in light professional trading.

Tax-exempt prices were unchanged and the tone was heavy during the morning session as supply weighed on market psychology. But the last leg of the Treasury's $38 billion annual refunding went without a hitch, boosting the 30-year bond 1 point.

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