Reply #49: US Treasuries trim losses on weak real estate data

[UpInArms]

http://today.reuters.com/PrinterFriendlyPopup.aspx?type=bondsNews&storyID=uri:2006-01-05T160158Z_01_N05385453_RTRIDST_0_MARKETS-BONDS-UPDATE-1.XML

NEW YORK, Jan 5 (Reuters) - U.S. Treasury debt prices trimmed earlier losses after a measure of the real estate sector came in on the weak side, stoking concerns that the residential property market is weakening.

Still, analysts were quick to stress that the bond market was most concerned with Friday's non-farm payrolls report, the most closely watched U.S. economic data.

<snip>

NEW YORK, Jan 5 (Reuters) - U.S. Treasury debt prices trimmed earlier losses after a measure of the real estate sector came in on the weak side, stoking concerns that the residential property market is weakening.

Still, analysts were quick to stress that the bond market was most concerned with Friday's non-farm payrolls report, the most closely watched U.S. economic data.

<snip>

"It's got to be the real estate number, because everything else this morning has been pretty bond-unfriendly," said Don Kowalchik, a debt strategist at A.G. Edwards & Co. in St. Louis. Kowalchik was referring to a government report early Thursday showing a surprising drop in the number of workers seeking unemployment benefits, which pushed bond prices down.

...more...