Bonds Close Higher

After a modest opening and a tumultuous morning, Treasuries ended the day higher, boosted by month-end buying. For much of the morning, traders were busy trying to interpret the torrent of economic data released today, including the GDP, ECI and PMI numbers. But in the afternoon, bond prices inched upward, helped along by higher oil prices, a soft equities market and a falling dollar versus the yen. The benchmark 10-year Treasury note shed 5 basis points to yield 4.03%.