On March 30, world stock markets advanced to post double-digit gains for the quarter, as economic reports revealed that U.S. consumer spending and sentiment still on the rise helped buoy stock prices besides under-cutting the desire to hold bonds.
Marking the end of a tumultuous first quarter for Treasuries, U.S. government debt prices fell, their worst three-month period since the fourth quarter of 2010.
The euro rose 0.3 percent against the dollar to $1.3334 and gained 0.8 percent to 110.48 yen.
The Dow Jones industrial average .DJI gained 66.22 points, or 0.50 percent, to 13,212.04. The S&P 500 Index .SPX gained 5.19 points, or 0.37 percent, to 1,408.47. The Nasdaq Composite Index .IXIC dipped 3.79 points, or 0.12 percent, to 3,091.57.
"Since the end of 2011 we've seen the market get spooked by stronger economic data," said Robert Tipp, chief investment strategist for Prudential Fixed Income, where he helps oversee $240 billion in assets under management.
"Those concerns were elevated at the Fed's last policy meeting when the market was unable to glean any hint the Fed would continue their aggressive open market operations in the second half of the year," Tipp said.
"We have a lot of conflicting data points, a lot of conflicting news," said Camilla Sutton, chief currency strategist at Scotia Capital. "There's no catalyst to break things out of month-long ranges."