Treasuries Hit by Stronger than Expected Data

Strength in stocks helped drive the market lower

U.S. Treasury issues fell in price in Friday's session but 30-year futures closed just above their 101-25/32 support level. The market rebounded a bit in the afternoon when shorts covered but faltered again as strong auto sales added to earlier data -- spending/income, NAPM/ISM and construction spending -- that suggested the economy is stronger than many had anticipated. Stocks caught and held a bid on a Friday for the first time in recent memory. Fimat's Michael Stoher in Chicago said no one wanted to own Treasuries over the weekend.

    Before it's here, it's on the Bloomberg Terminal. LEARN MORE