S&P MARKETSCOPE: The long end of the Treasury market rallied on short covering before tomorrow's jobs report. Many economists have lowered their jobs expectations because yesterday's ISM employment index dropped below the 50 do or die line to 48.8. Some noted today's report on weekly jobless claims rose a surprise 25,000. 10-year Treasurys unchanged at 101-30/32 for yield of 3.892% in late improvement. 30-year bond up 08/32 to 117-31/32 for yield of 4.226%. European bonds also rallied late in their session. The yield on 10-year German bunds fell to 3.20% from 3.22% yesterday as European Central Bank left rates unchanged.
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