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Bonds Higher


S&P MARKETSCOPE: 10-year Treasury notes were up 11/32 to 101-24/32 for a yield of 3.914% as some traders locked in favorable rates late in the session. The notes had seesawed at a higher level most of the day in reaction to Fed Chairman Greenspan's comments puzzling low long term rates didn't not necessarily mean a recession was at hand. He cautioned hedge funds could run into trouble with the low rates but believes the financial system is strong enough to handle it. There is doubt tomorrow's report Wholesale Inventories and Sales will impact the market much. The market is awaiting Greenspan testimony to the Joint Economic Committee Thursday. Treasury futures closed higher.


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