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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