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Treasuries End Higher


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.


The Aging of Abercrombie & Fitch
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