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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (473462)	10/9/2003 10:24:21 AM
From: Bill	Read Replies (1) \| Respond to of 769670

Wrong. The revised number for last week was 395,000. money.cnn.com As good as this report is, it's possible that it will be positively revised. Good news all around.

To: DuckTapeSunroof who wrote (473462)	10/9/2003 10:24:56 AM
From: jlallen	Read Replies (1) \| Respond to of 769670

You'll have to post the entire article....I don't read rags like the NYT, Enquirer, Star, etc. and do not want to register with them...

To: DuckTapeSunroof who wrote (473462)	10/9/2003 10:29:28 AM
From: DuckTapeSunroof	Respond to of 769670

For you, JL, anything... (though since it's a Reuter's wire story, you could have easily found it yourself :) October 9, 2003 Treasuries Staggered Job Stability Signs By REUTERS Filed at 9:19 a.m. ET nytimes.com NEW YORK (Reuters) - Treasuries extended overnight losses on Thursday as the latest U.S. jobless data proved stronger than expected, stoking speculation the long-suffering labor market may finally be stabilizing. Benchmark 10-year yields hit a two-week high around 4.32 percent and were threatening resistance at 4.325 percent, a break of which could see the pullback snowball into a major sell-off. Jobless claims fell to 382,000 last week from an upwardly revised 405,000 the week before, beating forecasts of a dip to 393,000. The four-week moving average dropped to 393,500, its lowest level since early February. The weekly data are volatile and subject to revision but so sensitive has the whole issue of a jobless recovery become that the figures can still move markets. ``Jobless claims were lower than expected. We're still not at a level where people are thinking that the labor situation has improved, but we're getting close,'' said Gary Thayer, chief economist at A.G. Edwards in St. Louis, Missouri. ``The bond market is off a little bit because the stronger the labor market looks, the less time people are likely to think that the Fed will wait before raising rates,'' he added. The market had actually been toying with the idea the Fed might ease again but last Friday's surprise rise in September payrolls put paid to that. Eurodollar futures (0#ED:) have since been pricing back in the odds of a rate hike as early as March, a trend only encouraged by the jobless claims figures. Likewise, yields on the two-year note (US2YT-RR) have climbed to 1.67 percent from lows around 1.43 percent last week as the market reconsidered the likely timing of any tightening. The benchmark 10-year note (US10YT-RR) was 17/32 lower in price on Thursday, taking yields up to 4.31 percent from 4.24 The 30-year bond (US30YT-RR) dropped 27/32 for a yield of 5.22 percent from 5.16 percent. The new five-year note (US5YT-RR) shed 9/32 in price, taking yields to 3.21 percent having been sold at a yield of 3.139 percent at Wednesday's auction of $16 billion in paper. The market is also bracing to absorb a sale of $9.0 billion in reopened inflation-protected 10-year notes on Thursday and hoping they will attract the sort of demand that the five-year auction boasted. That was notable for drawing unusually heavy bids from indirect bidders, largely foreign central banks, leading traders to suspect that the Bank of Japan had invested some of the dollars bought in recent intervention. The BOJ was rumored to be active again on Wednesday, selling yen in a vain attempt to stop the dollar from hitting fresh three-year lows. Federal Reserve speakers today include Governors Ben Bernanke and Edward Gramlich and Fed Bank of Minneapolis President Gary Stern, but there has been so much Fed speak recently that traders say they have become rather desensitized to official comments. Copyright 2003 Reuters Ltd. \|