Treasuries End Higher

Treasury prices rose in late afternoon on lingering geopolitical risks and stock weakness

Treasuries started off on the wrong foot Tuesday after the Martin Luther King holiday break, tumbling with a lag following persistently strong housing data and a temporary reprieve for stocks. Leveraged and supply-related selling weighed initially, but soon ran its course and another bout of risk aversion sent prices higher along the curve in the end. "Black box" sellers and some bearish option trades against benchmark 10-year notes helped set a low opening bar, as did hedging related to the announcement of a $5 billion GE 10-year deal.

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