Treasuries Rise on Consumer Confidence, Housing Reports
Treasuries rose on Tuesday after a private report showed U.S. consumer confidence declined in March and another report indicated a decline in housing prices.
The confidence index of the Conference board fell to 64.5 from 74.4 in February, farther than expectations. A survey from Bloomberg showed a median reading expectation of 73.5.
Meanwhile, home prices fell by record levels in January compared to a year earlier. The Standard & Poor's/Case-Shiller index of home prices fell 11 percent in January, its biggest drop since it began tracking prices 20 years ago.
Two year treasury notes were up 3/32 to yield 1.78 percent, down from 1.81 percent on Monday. Ten-year notes yielded 3.51 percent at midday.
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