Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Treasuries End Higher

It was a volatile session in the absence of market moving data. Treasuries opened lower, following overnight profit-taking. Early retail flow was light and mixed. Prices ground lower, helped by option-related sales (dynamic convexity hedging). But by midmorning, the front end led a sharp rebound on large hedge-fund 2-year buying.

Multiple dealers were lifted, so the Street made the leap that foreign-exchange intervention was behind the pop. The rumor was denied, so prices ground back down. A narrow range ensued, with Greenspan the next focus. The Chairman said nothing market moving.

But by noon, prices again surged as the sharp stock declines sparked reallocation speculation. In addition, "Black-Box" players lifted chunks of 2-years. The rally extened on short covering, large 2-year purchases, and convexity buying.

blog comments powered by Disqus