Stocks Mostly Dip As Bond Yields Rise

BY

Wall Street Mostly Lower After Bond Yields Rise, Service Sector Shows Growth.

Stocks slipped in uneven trading Thursday, as jitters over rebounding bond yields dampened
Wall Street's excitement about new buyout activity and strength in the U.S. service sector.

The Institute for Supply Management's index of service sector activity in June rose to 60.7 from 59.7 in May, indicating that non-manufacturing industries saw slightly faster expansion. The figure was better than expected, fueling
sentiment that the economy is recovering from a slow first quarter.

However, the data weighed on bond prices, which were already weak after payroll company
Automatic Data Processing and consultancy Macroeconomic Advisers said 150,000 private jobs
were created last month -- a good sign that the Labor Department's June payrolls data Friday will show a solid rise (請注意明晚的payrolls
data 是否如所料的大升) .

As prices fell, the 10-year Treasury note's yield shot up to 5.14 percent Thursday from 5.04
percent Tuesday.  On Monday, the 10-year yield had slipped below the 5 percent level for the
first time since early June, when the benchmark yield surged past 5 percent to a five-year peak of about 5.30 percent.

Robust data is a double-edged sword for the stock market; though investors want the
economy to strengthen, they remain worried that it will cause rates to rise, which can slow down business.

Touch

原帖由 BY 於 2007-7-6 12:59 AM 發表
Wall Street Mostly Lower After Bond Yields Rise, Service Sector Shows Growth.

Stocks slipped in uneven trading Thursday, as jitters over rebounding bond yields dampened
Wall Street's excitem ...

thanks!

qooo

thks BY

ppighead

原帖由 BY 於 2007-7-6 12:59 AM 發表
Wall Street Mostly Lower After Bond Yields Rise, Service Sector Shows Growth.

Stocks slipped in uneven trading Thursday, as jitters over rebounding bond yields dampened
Wall Street's excitem ...

thx for yr info.

jingyu

thanks