Interest Rate and Treasuries Market Recap

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March 23rd, 2012

June 30-Year Bonds trended higher throughout the session, up for the fourth consecutive day and climbing to a new seven-day high. The upside action in June 30-Year Bonds took on a new trajectory after this morning’s February New Home Sales data came in weaker than expected. The disappointing US housing market stats, coupled with yesterday’s disappointing European and Chinese manufacturing readings, were seen supporting the case for more quantitative easing by central bankers. The day’s prices gains pressured cash market yields below their 200 day moving average for the second day in a row. June 30-Year Bonds finished the week with a gain of more than 1-00 point, after first falling to their lowest level since October 27th (135-05). Next week, the market faces 2, 5 and 7-Year Treasury note auctions totaling $99.0 billion.

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