Bonds Tread Water As Wall Of Cash Greets First Tranche Of New Issuance This Week
Posted on November 23, 2009 at 18:34 PM EST
Despite $118 billion in new Treasuries hitting the market this week and rising stock prices, demand for the safety of government debt has limited losses as traders seek to lock in gains for the year. Stronger home-sales data released Monday also failed to put real pressure on Treasuries, as investors brushed off an uptick in existing-home sales for October. "This is an indication of the wall of cash that's being put to work in all asset classes,