MW: Treasurys rally after big drop in durable goods orders
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys rallied early Wednesday, sending yields sharply lower, after a deluge of economic data -- including a steep drop in orders for durable goods. The benchmark 10-year Treasury bond gained 0.10 to 105.226, sending its yield down more than 1.2% to 3.075%. Orders for U.S.-made durable goods fell 6.2% in October, the largest decline in two years, the Commerce Department said Wednesday. Economists surveyed by MarketWatch had expected an overall decline of 2.5%. Excluding transportation, orders fell 4.4%.
