Treasuries Finish Higher on Safety Bid

Despite gains in retail sales, Treasuries finished higher on a late-afternoon flight to safety as stocks drifted into the red

A shudder of risk aversion on Thursday kept Treasuries underpinned, despite a solid gain in retail sales, an odd Thanksgiving distortion in the 83,000 jobless claims jump, and a drop in the current account deficit. No single event drove the market, though a sudden $8/oz surge in the price of gold to five-year highs and simultaneous dollar weakness spoke to an accumulation of fears about weak global growth and geopolitical stress.

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