Treasuries End Lower

Expectations of improved payroll data next Friday hurt prices into the close

Treasuries ended the week lower, finally breaking the two-week trading range. Thursday's Fed Custody holdings data unnerved players early on. This news, in addition to the surging Nikkei, raised speculation of reduced foreign-exchange intervention by the Bank of Japan, underscoring the weaker Treasury open. Talk that banks would raise their estimates for more improved payrolls number next Friday further underscored weakness.

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