Treasuries Remain Higher

Treasuries rebounded after Challenger reported a sharp gain in layoffs in October

Treasuries managed to shrug off yesterday's strong data set and rebound on Tuesday, posting corrective gains after the Challenger Layoff report announced a 125% gain to 172,000 in October. While the private report rarely aligns neatly with the payrolls report, it nonetheless encouraged bulls to take charge again. The layoff gain was led by the auto sector, which announced plans to cut its workforce by 28,000 following a slowdown in the heady pace of auto sales in October.

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