Treasuries showed a significant move to the upside on Tuesday, adding to the gains posted during Monday’s session.<\/p>\n
Bond prices moved sharply higher in morning trading and remained firmly positive throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price is tumbled 9.0 basis points to 4.122 percent.<\/p>\n
The rally by treasuries came as the latest batch of U.S. economic data helped ease recent concerns about the outlook for interest rates.<\/p>\n
Consumer confidence in the U.S. deteriorated by much more than anticipated in the month of August, according to a report released by the Conference Board.<\/p>\n
The Conference Board said its consumer confidence index tumbled to 106.1 in August from a downwardly revised 114.0 in July.<\/p>\n
Economists had expected the consumer confidence index to edge down to 116.5 from the 117.0 originally reported for the previous month.<\/p>\n