Treasury Prices Fall on Stronger Jobs Data

Treasury Prices Fall on Stronger Jobs Data

S&P MARKETSCOPE (07/06/2007): Treasuries fell on back of stronger nonfarm payroll job growth in June than expected, big upward revisions to April and May, and higher average hourly earnings... The data supported sentiment that the risk of inflation outweighs the possibility of economic slowdown, and that the Federal Reserve may be pressured to raise its target on the federal funds rate sometime later this year or early next... 10-year note slid 11/32 to 94-25/32 for a yield of 5.18%... 30-year bond tumbled 24/32 to 92-06/32 for a yield of 5.27%... Equities were recovering from early weakness as the bond market closed, showing resilience in the face of higher Treasury yields and extended gains in crude oil futures... Gold futures fell.

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