Bonds Lower

Treasuries sank on lower oil prices and higher June consumer confidence data

S&P MARKETSCOPE: Treasuries sank as August WTI crude oil tumbled to $58.20 and June consumer confidence rose more than expected to 105.8 from 103.1 in May.

Stocks were rallying broadly as bond trading came to a close. These factors prompted some unwinding of recent buying of Treasuries on back of a flight to safety. The 10-year note fell 16/32 to 101-08/32 for a yield of 3.96%. The 30-year bond sank 27/32 to 117-19/32 for a yield of 4.24%.

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