Bonds Lower

Treasuries sold-off Friday ahead of large corporate bond issuance and a narrower trade deficit

INFORMA: Treasury prices soured early and made a one-wqy trade lower most of Friday. Bond prices opened weaker amid light speculative selling, and then fell briskly on the narrower trade deficit, a dip in import prices and the positive implications for GDP and inflation. But the biggest move followed a large, broad based sales ahead, of what is expected to be a large corporate issuance of up to $60 billion in June. Prices continued to decline all afternoon as key technical levels were triggered. The 10-year Treasury yield climbed to 4.04%.

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