Treasury Bond Prices Fall After Economic Data News

October Durable Goods Orders, Consumer Confidence, and New Home Sales showed a strong economy

MARKETSCOPE : Treasury bond prices fell intraday on Monday, after economic indicators showed a strong U.S. economy.

The benchmark 10 year notes were lower at 100-09/32 for yield of 4.470%, while the 30-year bonds were lower at 110-10/32 for yield of 4.677%.

News hit that New Home Sales surged 13% in October to a record 1,424,000 annual rate from 1,260,000 in September, the largest increase in 12 years despite higher mortgage rates. October Durable Goods Orders, aided by higher airplane bookings and an end to a Boeing workers strike, rose more than expected 3.4% after falling 2% in September. The Conference Board's Consumer Confidence index surged to 98.9 in November from a two-year 85.2 in October, which was revised from 85.0. The recovery was the largest increase in 2 years.

Investors took in the news as they continued making bets on interest rates. The federal funds rate is currently at 4%, after 12 rate increases since 2004. The FOMC meets again on Dec. 13.

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