October 23, 2009 at 19:05 PM EDT
Bonds Hammered By Robust Home Sales; Record Issuance Looms Large This Week
Treasuries slipped Friday after news that home sales surged last month and ahead of this week's record-large wave of government debt supply. The National Association of Realtors said sales of previously owned homes surged 9.4% in September to an annual rate of 5.57 million units, well above analysts' forecasts. "This confirmed the improving trend in the housing market," said Gary Thayer, a strategist at Wells Fargo Advisors. The surge in home
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