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Treasury Prices Move Higher
MARKETSCOPE : The weaker than expected second quarter GDP report was driving bonds higher on Friday, on the perception the Fed will notraise rates at its Aug. 8 meeting, notes Roger Volz of Swiss American in New York. The 10-year Treasury yield fell to 5.00% on belief the GDP slowdown to 2.5% from 5.6% overshadows the fact the price index rose at a 3.3% pace, the sameas in the first quarter, which was revised from 3.1%, and the core PCE deflator rose 2.9%, up from 2.1% in Q1, which revised from 2.0%. Traders were also ignoring a report the Q2 ECI rose 0.9%. .
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Independence inside UK 'is possible'
A LEADING nationalist calls today for a major change in the independence message, arguing Scotland can become independent while remaining fully within the United Kingdom.
Murray Ritchie, the convener of the Independence Convention, advocates "Independence in Britain", arguing this would be the most effective way of persuading cautious nationalists that independence will not mean border controls and Scottish passports.
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