MW: Treasurys rally, yields slide, after U.S. manufacturing data
By Nick Godt
NEW YORK (MarketWatch) -- Treasurys rallied and yields plunged further Monday after a report showed the manufacturing sector of the U.S. economy slumped at the fastest pace in 27 years in November. Yields on the benchmark 10-year Treasury bond slumped to 2.813%, compared with 2.849% ahead of the report. The Institute for Supply Management said its manufacturing index fell to 36.2% in November from 38.9% in October. It's the lowest since early 1982. Economists were expecting the ISM index to fall to 37%. Readings under 50% indicate most firms reported worsening conditions.
