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Treasuries Fall as Manufacturing May Grow; Bin Laden Said Dead

May 2 (Bloomberg) -- Treasuries fell, after completing the biggest monthly advance since August, before reports that economists said will show manufacturing maintained an expansion and spending on construction rose.

Ten-year note yields also advanced as U.S. stock futures climbed following a report from the New York Times, citing an unidentified source, that Osama Bin Laden has died.

Ten-year yields rose two basis points to 3.31 percent as of 11:53 a.m. in Tokyo, according to Bloomberg Bond Trader prices, after dropping 18 basis points to 3.29 percent last month. They reached 3.28 percent on April 29, the least since March 23. The 3.625 percent note due in February 2021 fell to 102 21/32 from 102 25/32 last week. A basis point is 0.01 percentage point.

To contact the reporter on this story: Garfield Reynolds in Sydney at greynolds1@bloomberg.net

To contact the editor responsible for this story: Naoto Hosoda at nhosoda@bloomberg.net

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