Treasury prices slumped following several favorable economic reports, and while it was not good news to see retail sales decline during May, there was a huge sigh of relief that the report was not as dire as predicted ahead of its release.
The yields at the 10-year maturity climbed by 3.07% leaving them well clear of the 3% hurdle while financial issues also continued to suffer even as most banks share prices joined in the rally. One major exception was Bank of America (BAC), where the lender remains in the dog house following the finding that, by delaying and refusing to offer appropriate materials, it had hindered a government enquiry in to foreclosure practices.
Goldman Sachs Group Inc. (GS) ? Spreads at banks widened versus treasuries as corporate bond prices fell harder than government securities. A reminder of the cooler attitude towards the banking sector came Tuesday from
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