Treasuries End Unchanged

Geopolitical concerns outweighed strong data into the close

Treasuries ended unchanged. They opened modestly higher, led by weaker German IFO. Foreign retail was on both sides, but profit-taking dominated in Tokyo. Modest selling emerged on the New York open as final first-quarter U.S. gross domestic product rose 3.9%, missing expectations for a rise of 4.4%. However, the PCE deflator revised to up 3.2% from 3.0%, suggesting inflation was rising at faster than expected pace in the first quarter.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.