MW: Treasurys extend losses after durable goods data
By Ben Eisen
NEW YORK (MarketWatch) -- Treasury prices deepened losses Tuesday after data showed a jump in demand for big-ticket items, suggesting some sectors of the economy were gaining steam. Durable goods orders rose by 0.8% in April on the back of military hardware purchases, which masked a drop in most civilian categories. Economists had expected a 0.8% drop in orders. After the data, the 10-year Treasury note 10_YEAR +0.75% yield, which rises as prices fall, was up 1 basis point at 2.548%. The 30-year bond 30_YEAR +0.12% yield rose slightly to 3.400% while the 5-year note 5_YEAR +1.50% yield was up 2.5 basis points at 1.550%. Other data on the calendar Tuesday include the Case-Shiller home price index at 9 a.m. Eastern and a consumer confidence gauge at 10 a.m. The Treasury Department will sell $31 billion in 2-year notes 2_YEAR +1.11% at 1 p.m.
