Bonds Fall After $25 Billion Sale as Stocks Churn: Markets Wrap
- US Treasury sees solid demand in auction of 30-year bonds
- Risk of big US CPI revision on Friday leaves traders cautious
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Wall Street struggled to gain traction, with the bond market digesting another big sale of Treasuries and stocks hovering near records.
Bonds fell despite a strong $25 billion auction that reduced jitters about an oversupply. Equities closed little changed after the S&P 500 briefly hit 5,000 for the first time. A sense of caution prevailed as investors positioned for Friday’s consumer-price index revisions thinking about what happened a year ago: The update was significant enough to cast doubt on overall inflation progress.