Bonds Surge

Treasuries surged as equities plunged on rumors about hedge fund troubles

S&P MARKETSCOPE: Treasuries surged as equities plunged on rumors about hedge funds troubles. The rumors started in Europe, but haven't pinpointed the source of trouble but equity selling accelerated during the afternoon. Treasuries got a boost from a strong $22 billion 3-year note auction that kicked off a quarterly refunding program. 3-year notes were up 05/32 to 99 for a yield of 3.761%.

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