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Treasuries Move Notably Higher Following Disappointing Manufacturing Data

Treasuries Move Notably Higher Following Disappointing Manufacturing Data Treasuries moved notably higher during trading on Monday, extending the upward move seen over the course of the previous session. Bond prices pullback off their best levels in afternoon trading but remained firmly positive. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 6.5 basis points to 1.174 percent. The ten-year yield climbed off its intraday low of 1.151 percent but still ended the session at its lowest closing level in almost six months. The strength among treasuries came as traders looked to the relatively safe haven of bonds following the release of a report from the Institute for Supply Management showing an unexpected slowdown in the pace of growth in U.S. manufacturing activity in the month of July.

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