Treasuries strengthened as disappointing data reports deflated investor optimism over the economic outlook.
The data supported bond bulls’ argument that the economy needs continued support from the Federal Reserve via its purchases of Treasury bonds and mortgage-backed securities.
The benchmark 10-year Treasury note was 4/32 higher in price, yielding 1.842%. The 30-year bond was up 15/32 in price, yielding 3.091%.