U.S. Debt in Worst Start Since 2003 |
| Bloomberg - Jan 20, 2012 |
Treasuries are off to their worst start since 2003 on signs the U.S. economy is strengthening and Europe is moving closer to resolving its debt crisis.
Treasury 10-year notes fell for a third day as a U.S. report showed home sales rose for a third month in December, adding to signs including falling claims for jobless benefits that the world’s largest economy is gaining momentum. Greek officials held debt-swap talks for a third day after Spain and France sold bonds at lower yields yesterday.
“The lack of blowups in European sovereign debt have allowed calm to erupt, and that has weighed on Treasuries,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, which oversees $12 billion in fixed income assets. “Home sales are improving, though from very poor levels, which underlies the improving data we’ve had of late,”
Read Full Article from Bloomberg
- Posted: 2012-01-20 12:47:26
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