MW: Treasurys improve, dollar pares gains after GDP
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices erased a loss and the dollar pared its gains on Friday after the U.S. government said the economy grew 2.8% in the fourth quarter, down from the 3.2% estimate released earlier this year and slower than economists forecast. The dollar and bond yields, which move inversely to prices, had been slightly higher before the data as oil prices stabilized, reducing the shift between assets as investors sought safer havens. The dollar index which measures the greenback against a basket of six currencies, traded at 77.156, from 77.231 before the data and up from 77.086 in late North American trading Thursday. The euro (EURUSD 1.3781, -0.0012, -0.0870%) slipped to $1.3782, versus $1.3768 earlier and down from $1.3802 Thursday. Yields on 10-year notes (UST10Y 3.46, +0.01, +0.38%) traded at 3.46%, little changed from Thursday and down from about 3.48% in morning action. Still to come is a report on consumer sentiment and a Federal Reserve buyback.
