Interest Rate and Treasuries Market Recap

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August 17th, 2012

The Treasury market managed to avoid a fresh new low for the move today and even more surprising is the fact that Treasuries prices actually managed to rally in the face of scheduled data that could have justified even more downside action. However, some traders suggested that upcoming FOMC meeting minutes, geopolitical concerns in the Middle East and unsolved debt problems in the Euro zone will soon return the flight to quality interest in US Treasuries. It should also be noted that Treasuries managed to hold their gains Friday morning, even in the face of news that the White House was planning a $470 million grant to states for transportation projects and that could be seen as a small stimulus program.

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