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
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV