Already a Bloomberg.com user?
Sign in with the same account.
MARKETSCOPE : Treasury bond prices fell on Friday after news about the job market kept concerns about inflation alive.
The benchmark 10-year note fell 06/32 to 97-01/32 for a yield of 4.75%, while the 30-year bond fell 12/32 to 96-05/32 for a yield of 4.74%.
February Nonfarm Payrolls rose a more than expected 243,000. The January figure was 170,000, revised from the 193,000 previously reported. The December figure was revised to 145,000 from 140,000.
Bear Stearns' economist John Ryding says the first payroll data "support our view that the Fed will raise rates at each of the next three FOMC meetings, which would put the funds rate at 5.25% by midyear."
Lehman economist Drew Matus said "measures of 'resource utilization' remain tight and, with average hourly earnings suggesting that wage pressures are rising, this report will keep the Fed on the offensive against inflation pressures."
News also hit that U.S. Wholesale Sales rose 1.0% in January after rising 1.2% in December, which revised from 1.0%.