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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: gregor_us who wrote (1255)	3/5/2004 9:11:43 AM
From: mishedlo	Read Replies (3) of 116555

Treasury Bears Crucified Treasurys rally on report showing weak job growth ($TNX) By Rachel Koning CHICAGO (CBS.MW) -- The bond market rallied Friday in the wake of a disappointing U.S. jobs report. The move was most pronounced in the shorter maturities, which are most sensitive to Federal Reserve interest rate decisions. The benchmark 10-year Treasury note was up 25/32 at 100 21/32. Its yield tumbled to 3.92 percent from 4.04 percent Thursday. U.S. nonfarm payrolls increased by 21,000 in February, far below Street expectations of 130,000, the Labor Department said Friday. The unemployment rate remained at 5.6 percent. January's payrolls were revised lower by 15,000 to 97,000.

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