By Ben Eisen, MarketWatch
NEW YORK (MarketWatch) -- Treasury prices slid Monday as
investors ditched safe assets and bought back into riskier
investments.
The benchmark 10-year note (10_YEAR) yield, which rises as
prices fall, was up 2 basis points on the day at 2.538%, paring
back its biggest weekly fall since March.
U.S. stocks rallied, helping the Dow Jones Industrial Average
(DJI) regain its 17,000 level, while gold fell. Citigroup Inc. (C)
impressed investors with earnings, which helped jump-start Monday's
stock gains. Portuguese bond prices rose and yields fell as
concerns over that nation's largest bank eased.
Improving conditions in the labor market are stoking a debate
about whether the Federal Reserve should lift key interest rates
sooner than initially planned, according to a Friday report by The
Wall Street Journal's Jon Hilsenrath.
With a lack of economic or monetary policy news on Monday,
market participants are looking toward Tuesday and Wednesday, when
Fed chairwoman Janet Yellen is scheduled to speak publicly before
Congress.
Also on the docket this week: retail sales on Tuesday,
industrial production on Wednesday, housing starts on Thursday, and
consumer sentiment on Friday.
The 5-year note (5_YEAR) yield rose 2.5 basis points to 1.664%,
while the 30-year bond (30_YEAR) yield was up 1 basis point at
3.351%.
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