"We recommend unwinding this position at a loss," says Citigroup, throwing in the towel on its...

|By:, SA News Editor

"We recommend unwinding this position at a loss," says Citigroup, throwing in the towel on its bullish mid-November call on Treasurys. The Cliff deal avoids big tax hikes for most, says Citi, and removes the tail risk of massive spending cuts. Treasury prices are down again following the strong ADP print.