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

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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