Treasuries had been under pressure after newspaper reports that Dallas Fed's McTeer called Greenspan's speech less bearish on the economy than the market reaction might suggest. Treasuries have, however come off their lows, as stocks were unable to sustain a rally on the bullish leading economic indicators data (December leading indicators nearly doubled expectations at +1.2%.). Exhausted stocks helped bolster the bond market after Kmart declared bankruptcy, says S&P's MMS.
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