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Politics : Formerly About Applied Materials

AMAT 262.92

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Dec 29 3:59 PM EST

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To: StanX Long who wrote (58343)	1/2/2002 10:21:31 PM
From: StanX Long	Read Replies (1) of 70976

Treasurys start 2002 on weak footing Factory sector index comes in better than expected By Rachel Koning, CBS.MarketWatch.com Last Update: 4:23 PM ET Jan. 2, 2002 cbs.marketwatch.com NEW YORK (CBS.MW) - U.S. government notes and bonds saw continued pressure during the first trading session of 2002 as a report on the factory sector hinted of the economic rebound many bond-market participants are predicting for this year. A recovery for the stock market from red to black ink Wednesday proved to be salt in the bond market's wounds. Wednesday's action in the bond space continues the poor tone seen at the conclusion of last year as participants anticipate an economic recovery with some girth in coming months. The yield on a benchmark 10-year note, for instance, soared by a rare full point in a short, five-week stretch to end the year. Sparking the further deterioration in bond prices, the December Institute of Supply Management Index, previously known as the National Association of Purchasing Management Index, came in at a reading of 48.2 from 44.5 in November, signaling that the decline in manufacturing is slowing. The Street expected a December reading of 45.6.

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