U.S. Treasury prices witnessed an enormous sell-off Tuesday precipitated by much stronger-than-expected consumer confidence numbers. U.S. March Conference Board consumer confidence came in at 117.0 vs revised 109.2 in February. Present conditions came in at 167.2 vs 167.1, but there was a surge in expectations to 83.6 from 70.7. The initial move lower was exacerbated by an unfounded rumor that the data had been leaked early and the confidence number was a very weak 100. In response, the curve steepened and the market moved higher as players set new longs and covered shorts. The Street got a rude awakening at the correct release as Treasuries across the curve plummeted in response to the strong data.