Treasuries End Lower

Prices plunged after the stronger-than-anticipated ISM data

It was not an auspicious start to the New Year for the Treasury market. The day started weaker as the "terror bid" diminished. But the big move came when the headline ISM number was 66.2 vs. 62.8, and vs. estimates for 61.5. Selling took over with a vengeance, with the 10-year yield popping six basis points in a blink.

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