Long Bond Posts Gains

As bombing over Afghanistan goes on without major hitches, sense of restored stability boosted the bond. Shorter-dated issues saw modest losses

As air operations over Afghanistan continued without any major setbacks, U.S. Treasuries finished mixed, with shorter-dated issues finishing lower and the 30-year bond ending higher.

The prospect of restored global stability to the financial markets helped bonds on the long-end. There were reports of repeated selling of NOBs (10-year and 2-year bonds), as short-covering at the long-end prompted some front-end underperformance and unwinding of steepeners.

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