Overseas selling, a faltering dollar, and the failure of Treasuries to parlay Friday's bond-friendly jobs news into gains pushed prices lower yesterday.
"I think it's really spillover, actually, from Friday's debacle," Christopher S. Rupkey, a vice president and financial economist at Mitsubishi Bank, said yesterday. "We had good news on Frlday, and we didn't go up or at least we didn't hold on to the gains." The government's long bond shot higher early Friday after the Labor Department reported a lowerthan-expected 179,000 increase in August nonfarm jobs. The benchmark bond ended the day half a point lower, however, chilled by inflation news.