Bonds Slightly Higher
S&P MARKETSCOPE (10/01/2007 7:27am EDT): The 2-year notes flat at 100-16/32 for yield of 3.984%, 10-year notes are up 02/32 to 101-11/32 for yield of 4.585% and the 30-year bond up 02/32 to 102-19/32 for yield of 4.838% before today's Sept. ISM Manufacturing Index, which market sees down bit but Lehman sees up to 53.5 level from 52.9 August. Market likely to drift in narrow range, however, as brace for Friday's Nonfarm Payroll report, that expected to show increase of 110,000 to 115,000. Some look for jobless rate to rise bit. Markets also watching Bank of England, European Central Bank meetings Thursday amid speculation leaders reversing tightening leanings. Expect banks to leave rates unchanged. Betting is Fed will cut rates on Oct. 30/31 meeting.
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