NEW YORK, N.Y. - Treasury prices are falling in the first day of trading in the new year after manufacturing activity and construction rose more than expected.
The price on the 10-year Treasury note slid 37.5 cents per $100 invested Monday. Its yield, which moves in the opposite direction, rose to 3.34 per cent from 3.29 per cent late Friday.
Manufacturing activity rose last month at the fastest pace since May, while construction spending edged up in November for the third straight month. Those reports are the latest figures showing an economy on the mend.
Treasury yields have been rising since early November despite the Federal Reserve's $600 billion bond-buying program aimed at lowering interest rates. Investors have raised their expectations for economic growth and inflation.
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