Treasuries Soar on Wall Street's Tumble

Bonds surged as stocks lost steam following a weak non-manufacturing report, raising expectations for another interest-rate cut

Treasuries recovered their poise after a non-manufacturing report failed to corroborate the bounce by its core manufacturing sibling earlier in the week. In contrast, it plunged to fresh survey lows and indicated that economic weakness is spreading into the services sector.

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