Markets & Finance

Treasuries Move Higher on Weak Data

From Standard & Poor's Equity ResearchThe 10-year Treasury note overcame early weakness Tuesday to soar 16/32 to 102-04/32 for a yield of 4.612% as Chicago PMI index amd Consumer Confidence index data weaker than expected. Few obsevers are looking to see much strength in tomorrow's ISM or Construction Spending data. Thus, the pressure is off the Federal Reserve to tighten interest rates.

The 2-year note was up 03/32 to 100-11/32 for a yield of 4.705%, 30 year bonds were up 31/32 to 96-17/32 for a yield of 4.748%. Meanwhile, the dollar index, which is dependent on higher rates, was off 0.28 to 85.30 level.

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