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FRIDAY CLOSING MARKET-GLANCE: 10-year benchmark notes rallied 22 ticks higher today, yielding 2.898%, as sliding stocks, week-/month-end action and mixed-bag data helped fuel safe-haven bid; traders already chatting about next Friday's jobs report.

(7/30/2010)

FRIDAY AFTERNOON MARKET-GLANCE: Long end still holding onto strong bid, at last check, but volume is wafer-thin and week-/month-end buying has already filtered through; at 1:42pm, 10-year benchmark notes were 20 ticks higher, yielding 2.907%.

(7/30/2010)

FRIDAY MORNING MARKET-GLANCE: Long end of Treasuries seeing solid recovery from recent beat-down as bond market retrenches amid auction-related relief, mixed-bag of economic data and week-/month-end buying which could keep prices supported.

(7/30/2010)

Q2 GDP REPORT: Annualized GDP growth during April, May and June was 2.4%, well below average 4.4% increase over past six months; new revised data show deeper recession and slower recovery...

(7/30/2010)

The 2.4% increase in GDP was close to the 2.5% expansion projected by economists. However, Q1's rate of growth was upwardly revised to a 3.7% rise vs the prior estimate of 2.7%. According to a MarketWatch.com report, economists said the growth was fairly strong in April and May but hit a rough spot in June which means the economy is entering the second half of this year without much momentum. With that said, many details of the report were positive even though the headline increase wasn't as strong as Q1's; most of Q2's deceleration was attributed to the trade sector.
Economic data on tap this week...

(7/26/2010)

Monday (New Home Sales at 10:00am); Tuesday (Case-Shiller 20-city Index May at 9:00am; Consumer Confidence at 10:00am); Wednesday (Durable Goods Orders at 8:30am; Fed's Beige Book at 2:00pm); Thursday (Initial Jobless Claims at 8:30am); Friday (GDP-Adv. Q2, Employment Cost Index at 8:30am; Chicago PMI at 9:45am; U of Michigan Sentiment at 9:55am).

What The Media Is Saying