Treasuries Sink after Jobs Data
MARKETSCOPE: Bonds, which surged yesterday in flight to safety from tumbling stocks, skidding following report U.S. Nonfarm Payrolls rose more than expected 166,000. Awaiting 10 am EDT report lon Factory Orders, which see down 0.3%. Fed statment Wednesday said board worried about potential economic slowdown but equally worried about inflation rising. Not seen cutting rates for the foreseeable future. Bonds had risen earlier in day on reports of funding concerns at British bank Barclays. The 2-year notes off 02/32 to 99-22/32 for yield of 3.803% 10-year notes off 13/32 to 102-25/32 for yield of 4.396% and the 30-year bond off 20/32 to 105-07/32 for yield of 4.673%. See little reaction to 10 am EDT report on Sept. Factory Orders, which see down 0.3%.