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Bonds Fall


S&P MARKETSCOPE: Bonds, which surged to 14-month highs at the outset on a weaker than expected Nonfarm Payrolls report, finished sharply lower. Dealers said Treasurys were overbought when 10-year yields fell to 3.84% level. 10-year yields currency up to 3.985% as note trades at 101-06/32, down 20/32. The 30-year bond fell 22/32 to 116-29/32 for yield of 4.286% in another reversal.

Some see the slide continuing in days to come unless Greenspan changes his sentiment with his Monday speech. Next Friday's U.S. Trade balance report is one of the few economic releases scheduled next week. 10-year yield still below 4%, suggesting traders don't have that much confidence in economic growth.

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