"Weaker than expected retail sales figures for May blew the scent of recession back into the bond market yesterday, a worry that sparked one of the bigger one-day rallies of the past year.</br></br>The price of the 30-year Treasury bond rose nearly 2 1/4 points to 114 1/32, or about $22.50 for every $1,000 bond. The yield, which moves in the opposite direction of the price, fell to 6.54%.</br></br>Movement in the Treasury's two year note was even more dramatic. Its price which is roughly six times more sensitive to movements than the 30-year bond, rose nearly 5/8 of a point, while its yield fell 31 hundredths of a percentage point to 5.61%, its biggest one-day move in five years.</br></br>Traders, investors and economists said the weak retail sales figures for May -- a 0.2% gain compared with expectations of 0.6% -- confirmed suspicions about the economy's weakness. Moreover, they said once again Federal Reserve Board policy makers are under pressure to cut short-term rates soon.</br></br>""The fundamentals are now more positive [for a cut in rates] than when we had the weak unemployment numbers [on June 2],"" said Lee Quaintance, head of government bond trading at CS First Boston."