Bond Focus: Treasuries Edge Higher in Light Trading

On a day of very light trading, Treasuries had little to respond to except movements in the stock market.

After starting the morning with a loss that was a reaction to rising stocks, the prices of notes and bonds changed direction around mid afternoon as the equity market was dragged down by slumping blue chips and technology bellwethers.

According to IFRmarkets.com, which analyzes market flow, the trading volume was about half of where it stood last week. And that rate was below average. The demand for U.S. Treasuries has been lessening since Feb.13, when Federal Reserve chairman Alan Greenspan watered down hopes of another early interest rate move. ...