S&P MARKETSCOPE: Treasurys were higher on reports of heavy European based buying. Program traders reportedly bought 10-year notes, which were up 100-16/32 for yield of 4.073%, and 30-year bonds were higher at 115-04/32 for yield of 4.391%. There could be seeing some end of month portfolio adjusting and some positioning in advance of tomorrow's FOMC meeting minutes, which should shed some light on Fed thinking, propects for interest rates in futures. The Treasury announced plans to sell $22 billion 2-year notes for settlement on May 31. This is the smallest size of the 2-year note since December 2001. Loose rumors of a think tank suggesting the Fed is on hold pushed bond prices even higher in the afternoon.
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