Treasuries Finish in the Red

Treasuries fell on the encouraging economic picture, and more positive comments from the Fed

Treasuries continued to lose their footing Wednesday as data outperformed expectations once again. While headline retail sales data for September came up 0.2% short, sizable back-revisions in October knocked the wind out of bonds. A record gain in the New York Fed's Empire State manufacturing index to 33.7 in combination with the first positive showing in its employment component in a year also added insult to injury. Later, the Fed's Beige Book regional economic report card noted the pace of the economic expansion had "picked up," with several districts even reporting improving hiring trends.

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