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:: Friday, April 18, 2003 :: They cant find Osama or Saddam. What a joke these Bushies are.:: Wednesday, April 16, 2003 :: Salon.com | Joe Conason's Journal Yahoo! News - HOW WE LOST THE IRAQ WAR HOW WE LOST THE IRAQ WAR:: Tuesday, April 15, 2003 :: Treasurys snap losing streak on data Empire State manufacturing ugly; national output down By Rachel Koning, CBS.MarketWatch.com Last Update: 3:28 PM ET April 15, 2003 WASHINGTON (CBS.MW) - Weak manufacturing data were behind an about-face higher for the Treasury market Tuesday, snapping a string of three straight losing sessions. Yields fell. Safe-haven Treasurys had suffered two straight weekly declines as the war in Iraq drew to a relatively quick close [read the latest] and mixed economic data left many scratching their heads over the odds for another Fed interest rate cut. The odds for a Fed cut at the May 6 meeting fell to about 20 percent this week from 50/50 last week. A formerly obscure regional report, the New York Fed's Empire State manufacturing survey has gained more and more recognition as a timely snapshot of the factory sector, similar to the attention given to the Philadelphia Fed's report. April's results - issued Tuesday - showed a very sick factory sector in that region. The Empire State manufacturing survey dropped to negative 20.4 in April from negative 2.8 in March, the lowest level since October 2001. Readings under zero indicate that a majority of firms surveyed reported that business is worsening or getting no better. Separately, output at the nation's factories, mines and utilities declined 0.5 percent last month, the Federal Reserve said Tuesday, in part on a hefty 4.1 percent drop at utilities as weather conditions returned to normal. Capacity use fell to 74.8 percent from 75.3 percent in February, the lowest since in nearly 20 years. Economists were expecting a 0.2 percent drop in industrial production and a 75.3 percent capacity use rate. Read more on the latest releases. Checking prices in recent action, a benchmark 10-year Treasury note rose 13/32 at 99 9/32. Its yield ($TNX: news, chart, profile) fell to 3.96 percent from 4.02 percent late Monday. A 30-year bond added 26/32 to 106 21/32, yielding ($TYX: news, chart, profile) 4.93 percent. A 2-year note yield fell to 1.67 percent and a 5-year note yield fell to 2.91 percent. The Dow Jones Industrial Average ($INDU: news, chart, profile) rose 11o 8,362, above its starting point of 8,341 for the year. The Nasdaq ($COMPQ: news, chart, profile) added 2 to 1,387. The S&P 500 ($SPX: news, chart, profile) rose 2 to 887. See Market Snapshot. Crude futures closed above $29 a barrel Tuesday for the first time in two weeks. Traders expect OPEC to cut back its production levels when it meets on April 24. June crude closed at $29.29 a barrel, up 66 cents. See Futures Movers. Elsewhere on the economic front, the Bank of Tokyo-Mitsubishi chain-store sales index rose a relatively robust 1.3 percent last week, but it wasn't nearly enough to offset the 1.9 percent drop in sales over the two weeks before that. Yahoo! News - Protests Greet U.S. Talks on Future with Iraqis Protests Greet U.S. Talks on Future with Iraqis
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