S&P MARKETSCOPE: Treasuries fell, under pressure from speculation that the July nonfarm payroll job growth will surprise to the upside.
The 10-year note fell 05/32 to 98-16/32 for a yield of 4.31%. The 30-year bond slid 11/32 to 112-29/32 for a yield of 4.52%.
Contradictory data today clouded the outlook for the labor report somewhat: weekly initial jobless claims fell 1,000 to 312,000, below the expected 315,000. Meanwhile, the Monster.com jobs index retreated two points from record levels to 134 in July.
The consensus forecast for July nonfarm payroll jobs is 180,000-200,000. Whisper numbers range from 160,000 to 250,000, though the bias is toward the high end.