Markets & Finance

Bonds Lower

Treasuries began the session on firm ground, with light speculative buying at the open of the Chicago Board of Trade, according to Informa. But the price action lacked follow-through buying, so key technical levels were never triggered on the upside. Consumer confidence numbers were close to expectations coming in at 97.7 from 103.0 in March, and an expected 97.3. New homes sales surged by 1.431 million, up 12.2%. So Treasuries reversed early gains and quickly fell into negative territory. 10 year notes were lower at 97-28/32 for yield of 4.271%, and 30-year bonds lower at 112-05/32 for a yield of 4.572%, according to S&P MarketScope.

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