Treasuries Finish Weaker

Treasuries took another pounding following a surprise boost in the ISM Non-manufacturing index

Overall, Treasuries ground lower on Monday. While flows were not robust, they were slanted to the sellside, so Treasuries took another pounding with mortgage-related and technical selling the main impetus. Treasuries opened lower as position-adjusting added pressure. The lower prices sparked selling, with retail and mortgage-related sales further out the curve adding more pressure.

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