Slump in housing sales raises Treasury prices

09/25/2007 | Bloomberg

Speculation that a report scheduled to be released today will show a decline in August existing-home sales pushed U.S. Treasury prices higher Monday. Rising defaults on home mortgages have increased demand for the relatively safe U.S. Treasuries. "Housing hasn't reached its bottom yet and that backdrop is supportive" of Treasuries, said Jason Simpson, a fixed-income strategist at ABN Amro.

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