Shaky Stocks Drive Bonds Higher

Turkey's decision to float the lira hurt global markets; inflation concerns pressured long-term treasuries

Curve trade prevailed again Thursday, with the session peppered with various forces tugging at both the short and long end. Solid demand was reported for short-dated Fed funds and euro futures contracts, with some conspicuous real money buying spilling over from a rumor Wednesday as well as initial equity weakness.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.