MW: Treasurys gain to start new year after ISM report
Treasurys gained Friday, pushing yields lower on the first trading day of 2009, after a private report said manufacturing in the U.S. contracted further than predicted last month.
Ten-year note yields fell 5 basis points, or 0.05%, to 2.17%. Two-year note yields rose 3 basis points to 0.74%.
The Institute for Supply Management's index of manufacturing activity declined to 32.4 in December, from 36.2 in the previous month, the fifth monthly drop and the lowest in more than 20 years. Readings under 50 indicate contraction in the industry. rose 3 basis points to 0.74%.
The Institute for Supply Management's index of manufacturing activity declined to 32.4 in December, from 36.2 in the previous month, the fifth monthly drop and the lowest in more than 20 years. Readings under 50 indicate contraction in the industry.
