TREASURIES-Bonds slide on consumer confidence, 5-yr auction
* Prices fall on April consumer confidence jump
* Treasury's $35 billion 5-year auction hurts market
* Supply seen weighing on market further
By Burton Frierson (Updates comment, prices after consumer confidence data)
NEW YORK, April 28 (Reuters) - U.S. Treasuries prices fell on Tuesday as a surge in consumer confidence dragged down safe-haven government bonds and an auction of 5-year notes added another weight on the market.
U.S. consumer confidence posted its biggest jump in more than three years in April, while the slump in home prices showed signs of slowing in February, adding to hopes that the recession may be waning. [ID:nN28304426]
A $35 billion auction of 5-year notes pushed the market lower still, serving as the latest reminder of the massive load of supply this year as the government tries to finance bank bailouts and economic stimulus.
"I thought it was a pretty good auction," said Kim Rupert, managing director of global fixed income analysis at Action Economics LLC in San Francisco.
"I think the market is just a little bit heavy here with supply." Continued...
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