Treasuries End with Gains

Prices rose on softer-than-expected personal-income data, and falling stocks

Treasuries, faced with a probable 25-basis-point Fed rate hike next week, managed to register small gains as stocks and the dollar fell, and as oil and gold prices rose.

Prices popped on the softer-than-expected personal-income data. Traders are also bracing for Treasury's refunding announcement tomorrow. The Treasury is expected to present a $54 billion package that includes $24 billion in 3-year notes, $15 billion in 5-year notes, and $15 billion in 10-year notes.

Due out tomorrow are reports on June Factory Orders, which many economists see up 0.5%, and July Nonmanufacturing ISM data, which many see up to 61.5 to 62.0.

Earlier, Treasuries were lower as safe-haven trades reversed following reports suggesting that a terror plan in New York, New Jersey, and Washington was old.

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