Recap 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 early in the session but leaked those gains throughout the session. Early support in the market came from a two-notch downgrade to Spain's credit rating, and that served to reignite European debt concerns and renewed safe-haven demand for government debt. 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, strong readings on export activity and consumer spending helped counter initial concerns and kept Bonds on their track lower. A better than expected final reading on April consumer sentiment also seemed to provide a downward force.

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