Summary Box: Treasurys slip on manufacturing news

AP News
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Posted: Nov 01, 2010 5:47 PM
Summary Box: Treasurys slip on manufacturing news

MANUFACTURING UP: Long-term Treasurys took a fall Monday after a national survey showed U.S. manufacturers expanding at a quick clip. The Institute for Supply Management said its main index rose to 56.9 in October, better than what economists expected.

TREASURYS SLIDE: Long-term Treasurys fell on the news. The 30-year bond lost 46.8 cents to $97.50. That nudged the yield to 4.01 percent from 3.98 late Friday, as bond yields and prices move in opposite directions.

WAITING ON THE FED: Any selling pressure is likely to be held in check until Wednesday. That's when the Federal Reserve is expected to announce a bond-buying program to give the economy a lift.