Bonds Close Lower

Treasuries were sharply lower on concern of less buying by foreign investors and governments. Rumors of hedge-fund liquidation as well as news that Friday's Nonfarm Payroll report could put pressure on the Fed to tighten credit also moved bond prices downward. Strong consumer spending at the beginning of the holiday season also added to the bond market's worries. The 10-year Treasury yield, which moves in the opposite direction of bond prices, rose to 4.33%.

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