Markets & Finance

Treasuries Finish Higher


Treasuries remained well bid amid ongoing concerns about terrorism and the disappointing November jobless report. Headline nonfarm payrolls data rose only 57,000, weaker than expectations for 150,000 job growth and once again raised fears about a jobless recovery.

The dollar took a beating on the jobless news. Also, the possibility of the Bank of Japan intervening -- buying dollars and selling yen -- also spooked dollar traders and subsequently lifted Treasury prices. Finally, blizzard-like conditions in New York may have contributed to thin trading late in the afternoon.

The Fed meets next week. Fed fund futures imply about 25% odds now of a quarter-point rate hike in March, down from 50% prior to the payrolls data and about 100% as recently as last week.


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