Treasuries End Higher
Treasuries finished higher in price on Tuesday, though off the session's best levels.
Treasuries opened higher, rebounding on an overnight pop in Japanese government bonds, weaker stocks, and improving technicals. Rumors that the Consumer Confidence data were leaked stronger than expected sparked the selloff mid-morning. The rumor was true. However, the "jobs hard to find" component jumped, reversing the Treasury pullback, moving prices to the highs of the session. But the uptick was unsustained. A large corporate bid list and mortgage related outright selling, in addition to downside risk protection in options, pared the session's gains.