Treasuries opened lower following better customer selling in London. The first-quarter GDP at +4.4% was better than expected, and weekly jobless claims data continued to show improving labor conditions. But the post-data dip proved to be shallow, as month-end and index-linked buying surfaced.
The front-end bid persisted as the terror and safe-haven bid stayed intact, and was heightened by explosives found near the upcoming NATO meeting in Slovakia. The revisions in the Lehman Brothers portfolio index then sparked more buying.