Bonds In Range
S&P MARKETSCOPE: Treasury futures were trading in a modest range even though stocks were skidding on Tuesday. The market had been battered since Greenspan last Wednesday it found that the "unanticipated behavior of world bond markets remains a conundrum". The Bank of England's chief economist Bean said it's "not obvious" why long rates are so low. Bean said uncertainty is an ever-present feature of the economic landscape and said policy ought to be set "very cautiously". The sterling came off its highs on the Bean comments. The 10-year U.S. Treasury yield was up to 4.29%, hitting a six-week high during the day.
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