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Reply #55: Treasurys Fall on Strong Retail Sales [View All]

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citizen snips Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-13-08 05:48 PM
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55. Treasurys Fall on Strong Retail Sales
NEW YORK (AP) -- Treasury prices fell Wednesday after a new retail sales report showed an unexpected increase in consumer spending for January after the dismal holiday season.

The Commerce Department said retail sales rose 0.3 percent last month, compared with a Thomson/IFR forecast for a drop of 0.3 percent.

Sales had fallen 0.4 percent in December as retailers suffered through their worst holiday shopping season in five years. So investors saw Wednesday's news as a possible indication that the weak consumer activity seen at the end of 2007 may have come to an end.

Treasurys, which are perceived as safe assets and tend to perform best when the economy is in peril, fell on the news. The report also helped inspire a stock market rally.

more...
http://biz.yahoo.com/ap/080213/bonds.html?.v=5
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