Treasuries surged despite the strong U.S. data, and no one's quite sure why. Yields on the 10-year declined more than 10 bps to 1.53%, the lowest since March 12, and those on the 30-year note dropped similarly. The move flattened a key segment of the curve by the most since November. Treasuries "are definitely moving in the opposite direction to the very strong macro story which is emerging," said Seema Shah, chief strategist at Principal Global Investors. "Perhaps it's simply because the rise in yields in recent months was extremely sharp and swifter than many were anticipating."