The Commerce Department released moderately better data on the economy this morning -- but don't celebrate quite yet. While U.S. consumer prices ticked higher in March, today's 1.5 percent figure still falls short of the Federal Reserve's stated 2 percent target.
Treasuries fell while the dollar snapped a five-day slump as growth in consumer spending boosted speculation the Federal Reserve will continue to reduce stimulus. U.S. stocks pared early gains, while industrial metals rose amid speculation China will do more to support growth.
The difference between the yields on five-year notes and 30-year bonds narrowed to the least since 2009 on bets the Federal Reserve ends stimulus and raises interest rates sooner than forecast as the economy strengthens.