U.S. govt bonds close down in New York amid perception stockmarket stabilizing

NEW YORK (AFX) - U.S. government bond prices closed lower in sluggish trade, with long-end Treasuries falling and the short-end remaining unchanged as sentiment turned bearish amid market perception that the stock market is stabilizing, dealers said.	    The weaker-than-expected Conference Board consumer confidence data had little impact on the market, they added.	    At 3.53 pm, the 5-3/8 pct 30-year bond closed down 10/32 at 94-20/32, yielding 5.751 pct, the 5 pct 10-year note was down 4/32 at 98-13/32, yielding 5.200 pct and the 4-1/4 pct 2-year note was down 1/32 at 100-6/32, yielding 4.130 pct.	    The June bond contract was down 8/32 at 101.	    Dealers said they were not sure why the market had not reacted more positively to the weak consumer confidence data.	    However, they noted that the bond market's weak sentiment helped drive long-end Treasuries lower, pointing to economic stability if not recovery.	    With little new information from today's consumer confidence report and key data due out Wednesday on durable goods orders, bonds failed to move since morning trade, dealers added.	    Consumer confidence fell in April as the Conference Board's consumer confidence index (CCI) fell to 109.2 points from 116.9, revised downward from 117.	    Given the low CCI level, investors are awaiting the release of the employment cost index data to be released on Thursday and gross domestic product figures due Friday.    	    The Fed Funds rate was at 4-3/8. 

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