Treasuries Soar Amid Mounting Economic Anxiety Into Quarter-End

Treasuries rallied after data suggested US economic growth is slowing, and falling US stock prices stoked demand for bonds.

The advance on Friday send yields across maturities lower by at least seven basis points, with the five- to 10-year tenors down as much as 10 basis points from one-month highs. The catalysts included February personal income and spending data showing that higher inflation is curbing consumption. The University of Michigan’s sentiment gauges for March were revised lower as inflation expectations climbed.