Treasuries End Lower

Treasuries fell in choppy trade as the curve steepened ahead of the New Year holiday

The market started out lower and added to its losses after a very strong New York PMI report, at 80.7, vs. 51.6. Eurodollar trading however was two-way, and options trades showed players hedging their bets. Losses were quickly pared when the next set of data came in tepid. Chicago PMI was 59.2, vs. 61.4 in November, and December's consumer confidence dipped to 91.3, from November's 92.5.

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