Long-term rates had crept up in late December and early January, as economic data for November showed stronger-than-expected growth.

He suggested that the Fed was again concerned that stronger-than-expected growth could rekindle inflation if the economy did not slow on its own.

In the medium term, he said, "bonds in particular will be vulnerable to signs of stronger-than-expected economic growth."

The current stronger-than-expected growth has lead to a reported shift at the Federal Reserve to a bias toward raising interest rates.

The new date reflects both "stronger-than-expected economic growth and lower-than-expected program costs," the trustees said.

The analog market has enjoyed stronger-than-expected growth this year, analysts said.

Some traders said the rise in the bond market last week, when the stronger-than-expected third-quarter growth was reported, was for this same reason.

The company is also having stronger-than-expected growth in its other main business, telephone network infrastructure.

This forecast of stronger-than-expected growth from an official who is considered in the know, worried the market.

They saw the possibility of both stronger-than-expected growth and stubborn inflation, which are both bad for the fixed-income market, especially the 30-year bond.