Submitted by Fox First at Ten on July 3rd
NEW YORK (AP) - Treasury prices fell Tuesday on a report of a pickup in orders at U.S. factories.
The yield on the benchmark 10-year Treasury note rose to 1.63 percent, up from 1.59 late Monday. The price fell 40.6 cents for every $100 invested.
The government reported that orders at factories rose in May. That was an encouraging sign to investors that manufacturers may not be as weak as many had assumed. On Monday, a trade group had reported that U.S. manufacturing shrank in June for the first time in three years.
Investors sold low-risk assets Tuesday and put money into stocks. The Dow Jones industrial average rose 72 points to 12,944.
The yield on the 30-year bond rose to 2.75 percent from 2.69 percent on Monday. Its price fell $1.03 for every $100 invested.
The yield on the two-year note rose to 0.31 percent from 0.29 percent. The yield on the three-month T-bill was unchanged at 0.08 percent.
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