Interest Rate and Treasuries Market Recap

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July 12th, 2012

Treasury prices spent most of the trade today in positive ground and for some that was surprisingly in the face of much better than expected US scheduled data flows. In fact, US initial claims fell significantly and in the process that economic measure fell down to the lowest level since March of 2008. In other words, the Treasury bulls weren’t put off balance because of US data and that in turn would seem to suggest that the primary driving force behind the upward bias in Treasuries is concern for growth outside of the US or perhaps the bulls are holding fast to European debt concerns. Today’s 30-Year Bond auction was met with strong demand and registered a record low yield of 2.58%.
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