Treasury Prices Move Higher
S&P MARKETSCOPE (09/05/2007 8:30am EDT ): Treasurys are higher following weaker-than-expected ADP Employment Survey data (38K vs. 41K in July), which will sustain concerns over the impact of the credit crunch on the economy, according to Action Economics. The 10-year Treasury note is up 06/32 to 101-24/32 for yield of 4.529%. 30-year bond up 02/32 to 102.210 for yield of 4.830%. Meanwhile the 2-year note is up 03/32 to 99.27 for yield of 4.075%. Bloomberg noted Eurodollar futures showed corporate borrowing costs are increasing, which aides speculation the Fed will cut interest rates this month.
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