Treasuries Trade Lower
10/02/2007 - 7:28 AM ... MARKETSCOPE: The 2-year notes flat at 99-31/32 for yield of 4.021%, 10-year notes off 04/32 to 101-16/32 for yield of 4.565% and the 30-year bond off 06/32 to 103-07/32 for yield of 4.798% as stocks indicated to open higher for second consecutive day. Former Fed Chairman Greenspan said there are the credit-market turmoil may be easing. Equities traders discounting slower economy, lower earnings reports and looking to strong economy, Fed rates cuts in the election year of 2008. See little reaction to today's reports on Pending Home Sales and carsales, both of which see down. Traders apparently looking for pickup in Friday's Nonfarm Payroll report, possibly revision to last month's 4,000 decline. European bonds lower. Bank of England and European
Central Bank expected to leave rates unchange at Thursday meetings. Betting is Fed will cut rates at Oct. 30-31 meeting.