This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Bond Brief: Rally Hits Snow Storm

Updated from 11:06 a.m. EDT

Treasuries eked out slim gains Wednesday as employment data became the market's sole obsession ahead of Friday's March payrolls report.

On Thursday, the Labor Department will release a reading on weekly jobless claims, and Wall Street expects the number to hold steady at 305,000. The report will be closely watched for evidence that hiring is weakening, particularly in light of Wednesday's ISM report.

The March ISM non-manufacturing sector index came in at 60.5 from 60.1 in the previous month, defying expectations for a slight dip to 59.0. But beyond the headline number, the employment component fell to 54.6 from February's 58.2.

"The ISM was a mixed number, in that the total number was higher but some of the details were weak," says Rick Klingman, chief Treasuries trader at ABN Amro. "Most important was the soft employment component. With Friday's number, everyone was looking at it a little more carefully."

Bonds gave back some of their early advance after Treasury Secretary John Snow said that Friday's upcoming March jobs report would be "good numbers." The employment picture is seen as the key to when the Fed will stop raising interest rates.

The benchmark 10-year note ended the day up 4/32 to yield 4.85%, while the 30-year bond gained 3/32 to yield 4.90%. Bond prices and yields move in opposite directions.

The two-year was little changed to yield 4.80%, and the five-year gained 2/32 to yield 4.79%.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AN $63.00 0.00%
TLT $131.06 0.00%
VIAB $67.85 0.00%
AAPL $123.25 0.00%
FB $83.30 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs