Treasuries End Higher

Treasuries rose on weaker-than-expected payrolls data

Treasuries ended higher on weaker-than-expected payrolls data, but struggled at the highs. Given the price action, it appears that the Street was short ahead of the data. Nonfarm payrolls totaled 112,000, well below median estimates, and the December revision wasn't much better. Thus, traders bought Treasuries. It was the Street and hedge funds who were the main buyers, mostly on short covering.

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