Vivien Lou Chen is a Markets Reporter for MarketWatch. You can follow her on Twitter @vivienlouchen.
Treasury yields fell on Thursday even after a solid third-quarter GDP report, with many economists clinging to the view that U.S. growth should start to flag.
Data released on Thursday showed that the economy rose at a 4.9% annual pace in the third quarter, defying expectations for a slowdown. Economists polled by The Wall Street Journal had expected a 4.7% increase in gross domestic product, the official scorecard for the economy. Some investors and analysts said debt market traders may be making a mistake in brushing off the signs of economic strength. U.S. Treasury Secretary Janet Yellen, speaking at a Bloomberg event in Washington after Thursday’s GDP report, said she doesn’t see signs of a recession.
Treasury’s $38 billion auction of 7-year notes was successful, according to BMO Capital Markets strategist Ben Jeffery, and extended Thursday’s rally in government debt, sending yields toward intraday lows.
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