Bonds Slightly Lower
Treasuries, which had been rising most of Monday, lost strength at the close ahead of tomorrow's April producer price report. Bond prices were higher earlier in the day following a weaker-than-expected New York Fed Empire State manufacturing index, according to S&P's MarketScope. The bond market also benefited from worries about hedge funds, according to Informa. U.S. Treasury International Capital System (TICS) data was disappointing.