Treasuries End Higher
Treasuries sat in a tight range for most of the session, despite weak economic reports. Treasuries bounced by the close on strong auction results, month-end buying, and the terror scare defined by Attorney General Ashcroft.
Prices opened higher following the new Al-Qaeda threat. Durables data were weak, sparking a modest bid, but hedge-fund sales capped the pop. The drop in new-home sales data also underscored a bid, but again, there was no follow-through.