AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
By Reuters
U.S. Treasuries rose on Friday as a Nasdaq retreat and a Chapter 11 bankruptcy filing by steel maker LTV Corp. enhanced the appeal of relatively risk-free U.S. government securities to investors.
A clutch of weak economic reports also maintained the bond-friendly outlook forslow economic growth and the probability of Federal Reserve interest rate cutsnext year.
C R E D I TM A R K E T S
The developments only improved the Treasury m
arket's winning performance this year.
As of Thursday's close, U.S. Treasuries had a total return of 13.32% for the year, outpacing a 9.046% return for corporate bonds and an 11.128% return for mortgage-backed securities, according to Merrill Lynch's U.S. bond index. Only municipals did better, offering a total return of 16.98% year-to-date as of Thursday.