2 July 2001, 14:44 US Data In Week Ahead Could Be Bond Friendly
For the coming week, economic data could support bonds, some say. The June NAPM is
released Monday and estimates are in the 42-45 area, versus a 42.1
reading in May. Morgan Stanley economist David Greenlaw said "production
problems at Ford and a further deterioration in the tech-related
activity should help restrain the NAPM gauge," so he prefers an estimate
at the lower end of the range of expectations. Also expected to be a
market support is next Friday's June nonfarm payroll reading, where a
drop of about 20,000 jobs is anticipated. Payrolls declined 19,000 in
May and fell 182,000 in April.
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