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Treasuries scored solid gains for the second consecutive day as stocks fell on disappointing ISM manufacturing and initial jobless claims data. Some traders are betting that Friday's nonfarm payroll report won't be as good as some anticipated. Michael Englund of Action Economics says "Friday's U.S. jobs data should reveal solid growth..but we expect moderation from the March-May pace that might disappoint investors."
Later in the day, weaker domestic car sales data -- with poor showings from Ford and General Motors -- pushed prices well into positive territory.