Treasury Prices Little Changed
S&P MARKETSCOPE (07/10/2007 8:15am): Bonds narrowly higher before report on 10 am EDT report on May Wholesale Inventories, which see up 0.3% after rising 0.3% in April... but punters mostly waiting for Fed Chairman Bernanke's 1 pm EDT speech on inflation to the NBER and what might happen in Q&A session that could provide some insight to Fed thinking... the 10-year Treasury notes are up 01/32 to 95-06/32 for yield of 5.132%, 2-year note flat at 99-29/32 for yield of 4.938%, 30 year bonds flat at 92-28/32 for yield of 5.230%... options on federal funds futures contracts show traders see a 24% chance the Fed will raise its benchmark rate to 5.5% by yearend, up from 12% a week ago.
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