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Treasuries Rise on Consumer Data



By Eric Stewart
29 March 2008 @ 12:27 am EST

U.S. Treasury prices rose on Friday after new government data shows consumer spending declined in February while consumer sentiment was lower than expected in January.

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The Commerce Department said spending was up 0.1 percent last month compared to a 0.4 percent gain in January. Meanwhile, the Reuters/University of Michigan index of consumer sentiment was down to 69.5 in March compared with 70.8 in February, lower than estimates.

Two year notes rose 3/32 in price to yield 1.646 at 5:22 p.m. in New York. Ten year notes were up 22/32 in price to yield 3.443.

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