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To: wlheatmoon who wrote (29962)	4/2/1999 8:48:00 AM
From: accountclosed	Respond to of 86076

bond market is open.

To: wlheatmoon who wrote (29962)	4/2/1999 8:48:00 AM
From: eddie r gammon	Read Replies (1) \| Respond to of 86076

<<Wonder how the bonds gonna do, now.....too bad the market is closed. -eg->> Hell Mike CNNFU is spinning those numbers as good for bonds and IDKJS about bonds so it may be (g) erg

To: wlheatmoon who wrote (29962)	4/2/1999 8:49:00 AM
From: Cynic 2005	Read Replies (1) \| Respond to of 86076

<<Wonder how the bonds gonna do, now.....too bad the market is closed. -eg->> I think they got your "-eg-" covered! -g- 08:32 TREASURYS RISE ON BENIGN MARCH PAYROLLS GAIN.

To: wlheatmoon who wrote (29962)	4/2/1999 12:02:00 PM
From: John Pitera	Read Replies (2) \| Respond to of 86076

Mike the new jobs created payroll came in at + 46,000, well below the 168,000 new jobs created number that was expected, with the long bond up near is high for the year at 5.7 that is a great reason for the bonds to rally a bit. We should check SDTI's ownership stake in VRSN and see if they still own 4.4 million shares. Unemployment Slips to 4.2% Despite Weak Payroll Growth Dow Jones Newswires WASHINGTON -- The U.S. economy created fewer jobs in March than at any time in the past two years as bad weather led construction firms to slash payrolls and manufacturers continued to feel pressure from global economic woes. But despite the modest growth in nonfarm payrolls -- at just 46,000 for the month -- the unemployment rate fell to 4.2% from 4.4% in February, the Labor Department reported. At that level, the U.S. job market remains tighter than at any time since February 1970. Both numbers surprised Wall Street economists, who expected a jump of 168,000 in payrolls and no change in the unemployment rate. But the payrolls reading attracted the most attention, nudging bond prices higher in early trading Friday amid expectations that the modest gain may signal some moderation in the pace of economic growth. The ease in the pace of job creation may mollify policymakers concerned that soaring employment may spark price pressures. The Federal Reserve isn't expected to alter interest rates anytime soon. The Labor Department said the manufacturing sector, which has been the hardest-hit of U.S. industries amid the global economic crisis, continued to shed jobs in March. Industry payrolls shrank by 35,000, the seventh consecutive month of declines. Construction payrolls contracted by 47,000, as inclement weather forced builders to slow the pace of their work. The drop follows five months of solid gains in which construction payrolls grew an average of 54,000 per month. The service-producing industry generated 135,000 jobs in March, the smallest increase in a year. The retail sector lost jobs for the first time in five months. Retailers' payrolls declined by a net 11,000 during March, including a 48,000 decrease at restaurants and bars because of what the Labor Department called below-normal hiring. Average hourly earnings posted another small increase in March, up 3 cents to $13.09, after a one-cent rise in February. Year-over-year, earnings are up a modest 3.6%. The average work week, meanwhile, declined 0.1 hour to 35.5 hours. The combination of hearty economic growth and tight labor markets, without a trace of inflation, has surprised analysts, many of whom forecast a slowdown in the U.S. expansion, now the longest ever in peacetime. Even the Fed has expressed surprise at the strength of U.S. growth, which reached 6% in the fourth quarter of last year. "The conjecture over an extended period of strong economic growth, very low rates of unemployment, and the absence of any buildup of inflation could not be explained in terms of normal historic relationships," the Federal Open Market Committee acknowledged in the minutes of its Feb. 2-3 meeting released Thursday. The Fed, however, has expressed worry that inflation could emerge if the labor market continues to tighten. The Fed policy panel in its February meeting agreed that the odds are "tilting" toward an outbreak of inflation. Under conventional economic theory, inflation is supposed to rise when the unemployment rate falls below 5%. The unemployment rate has now been below 5% for 20 months.