Despite early morning data, credit markets took their cue from new corporate issuance and upcoming supply. U.S. Treasuries were mostly rangebound but when there was movement, it was more from rate-lock setting and unwinding as corporate deals were upsized and priced than from technicals or fundamental economic data. GMAC then priced the 10Y coming at +282 and the 30Y at +277. A glitch in figuring the dollar on the 30Y tranche delayed the announcement. Although the spread remained at +277, the price was lowered to $98.902 from $99.002. At the same time, Motorola priced $600 million of a 10Y issue at +350. The belly of the curve, however, remained the worst performer, as attention was then diverted to next week's refunding of 5s and 10s.