Thursday May 7, 1:34 pm Eastern Time
US CORP BONDS - Spreads widen ahead of jobs report
NEW YORK, May 7 (Reuters) - U.S. corporate bond spreads were quoted a tad wider in moderate volume
ahead of Friday's
highly-anticipated release of April U.S. employment data.
''Spreads were a bit weaker today ... we saw a little bit of selling ahead of tomorrow's number,'' said one
high-grade trader.
The Labor Department will release April figures on nonfarm payrolls and unemployment on Friday, at 0830
EDT/1230 GMT.
In a Reuter poll, U.S. economists predict an increase of 259,000 in payrolls while expecting the unemployment
rate to remain unchanged at 4.7 percent.
Meanwhile, spreads to U.S. Treasuries were quoted one to two basis points wider across most maturities,
traders said.
.
.
Internet bookseller Amazon.com Inc's (AMZN - news) recent issue continued weaker, traders said. The firm's
notes were off at 60-1/4 bid, 60-1/2 offer, after pricing at 61.507 via Morgan Stanley Dean Witter, sources
said.
In the government market, the benchmark 30-year bond was trading off 4/32 at 102-15/32 to yield 5.95
percent.
EOM (RUETERS) |
