Treasurys Wipe Out Early Dip
Treasury bonds clawed back nearly all their early price losses Monday as mixed signals from a key U.S. manufacturing report heightened debate over the timing of the Federal Reserve's withdrawal of monetary stimulus.</br></br>In late-afternoon trading, the benchmark 10-year Treasury note fell 1/32 in price, yielding 2.482%, according to Tradeweb. Bond prices move inversely to their yields.</br></br>The 30-year bond performed better. The bond's price rose 12/32 after recouping all its earlier decline, yielding 3.477%.</br></br>The bond market stumbled earlier -- the 10-year yield rose to 2.551% during Monday's trading -- as upbeat manufacturing reports out of Europe and Japan sapped demand for safe assets.</br></br>But buyers flocked back to the market as the overall strength of the manufacturing industry was overshadowed by a decline in the sector's employment.