Exhibit 1
NEW YORK -- Treasurys finished mostly
weaker Thursday amid steady trade as dealers
positioned themselves defensively ahead of key
employment data due Friday, which could
introduce some volatility to the market.
There has been a lot of anecdotal evidence
pointing to a stronger jobs picture, Mr.
Crescenzi said, which has the bond market
positioning for the possibility of a stronger-thanexpected growth in payrolls.
Exhibit 2
After a moderate sell-off in the morning amid a
potentially inflationary productivity report,
Treasurys lifted off their intraday lows, aided in
part by data showing slower-than-expected
growth in activity outside the manufacturing
sector. But positioning ahead of the looming
employment data prevented Treasurys from
posting gains on the day, market participants
said.
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