“The market doesn’t have the liquidity it once hand. There used to be buyers and sellers. There are just sellers now. But the selling overall has been good for Treasurys as that is all anyone wants to buy.”

Treasurys closed mixed Friday, after being buffeted by a complex mix of news developments, including heavy monthly job losses on the one hand and a generally successful stock sale by bond insurer Ambac Financial Group Inc. on the other.

In addition, the Federal Reserve took major steps to increase liquidity in the financial system at a time when money is exceptionally tight. Given an unnerving wave of liquidations of securities by hedge funds desperate to raise cash this week, investors were more focused on the financial market developments than the worrisome economic numbers. Read more

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