Treasuries Flat to Higher
MARKETSCOPE: The 2-year Treasury notes flat at to 100-07/32 for yield of 3.024%, 10-year notes flat at 102-17/32 for yield of 3.947% and the 30-year bond up 05/32 to 110-11/32 for yield of 4.375% as traders await economic data to determine if and how much the Fed will cut rates at next week's policy meeting. Bernanke and Kohn have hinted strongly the FOMC will cut because of some weak data but Philadelphia Fed's Plosser indicates he needs to be convinced. Friday's Nonfarm Payroll report likely to be a big determining factor. Not certain how much weight today's Nov. ISM Manufacturing index will hold. European bonds bit higher as equities markets soft on mixed PMI reports.
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