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Treasurys fall on strong manufacturing report

Friday, July 1, 2011 - 2:25pm

..NEW YORK (AP) — Treasury prices are ending the week lower after a surprisingly strong manufacturing report eased concerns that the economy is slowing. That decreased demand for less risky investments like government bonds.

The price of the benchmark 10-year Treasury note fell 65.6 cents Friday for every $100 invested. Its yield rose to 3.21 percent from 3.17 percent late Thursday. Bond yields rise when their prices fall.

Treasurys fell each day this week, pushing the yield on the 10-year note up 0.38 percentage point since last Friday.

The Institute for Supply Management, a trade group of purchasing executives, said U.S. manufacturing picked up in June after a slump in May. It was the latest sign that the economy could be strengthening after a spring slump.

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