Treasuries Tumble on Higher Consumer Confidence

Bonds fell for a third straight session on the report, which indicated the economy is near a recovery

A climactic week was capped off by a steeper than expected decline November payrolls, not that it mattered much to downtrodden Treasuries. Nonfarm payrolls tumbled 331,000, and combined with the downward revision to 468,000 in October -- the worst figures since December 1974 -- the latest jobless report was the steepest back-to-back decline since May-June 1980.

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