Markets & Finance

Treasuries Finish Higher after Rate Cut

U.S Treasuries finished in positive territory, after the Federal Reserve's rate cut of 25 basis points, but off initial highs, as the policy statement had ambiguous implications. S&P's MMS says the market was encouraged that the Fed said the economy remains soft and kept its bias to easing.

In other economic news, U.S. wholesalers cut their inventories in October at the fastest pace since at least 1992 as they faced plunging sales in a recession-hit economy, a government report on Tuesday showed, according to news reports. The Commerce Department said stocks of unsold goods on wholesalers' shelves fell 1% to $294.21 billion, the biggest monthly decline since the current system of record-keeping began in 1992. In September, inventories fell 0.4% to $297.16 billion.

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