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Mid-Session Interest Rate Market Report
Fri 08 Mar 2013 16:31:00 CT
Related Keywords: Interest Rates
June 30-Year Bonds traded to their highest level since February 1st during the initial morning hours, fueled by reports of a two-notch downgrade to Spain's credit rating. Prices grinded lower from that peak as equity markets recovered and this morning's economic data was digested. Treasury prices caught a brief bid in response to a weaker than expected headline reading on first-quarter US GDP. However, some economists were encouraged by the sharper than expected gain in the consumer spending component, and that seemed to keep Treasuries on the downward track this morning. A better than expected final reading on April consumer sentiment also seemed to provide a downward force. Heading into the noon hour, US Treasury markets were positive but well off their early morning high.

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