Markets & Finance
Treasuries were higher Friday on weak stock performance. The bond makret ignored U.S. data in the form of Import prices and business inventory data that showed the economy was still on track, according to Informa. Bond prices rose anyway. The market also ignored an uptick in Michigan Consumer data. The bid was fueld by credit concerns on corporate spreads, particularly auto spreads, according to Informa, with hedge funds as large buyers of 2-years. Mortgage related selling began to weigh down bond prices in the late morning, but rose again after stocks continued to sink in the afternoon. 10 year notes were higher at 100-02/32 for yield of 4.121%, and 30-year bonds were higher at 113-17/32 for yield of 4.486%, according to S&P's MarketScope.