Treasuries End Mostly Higher

Treasuries rallied on a combination of weak stocks, SARS fears, and the abrupt end to U.S. talks with North Korea

The locus of fear shifted from the Middle East to the Far East this week and Treasuries capitalized on the latest Asian developments to extend gains on Thursday. SARS travel warnings and closure of a Beijing hospital got the ball rolling in Treasuries' favor early, but thorny negotiations with North Korea (who admitted to nuclear arms and threatened to walk out of talks) proved the larger catalyst for gains.

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