Treasurys fall on rise in factory orders

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Associated Press

Posted on July 3, 2012 at 3:01 PM

Updated Tuesday, Jul 3 at 3:02 PM

NEW YORK (AP) — Treasury prices are falling on a report of pickup in orders at U.S. factories.

The yield on the benchmark 10-year Treasury note rose to 1.63 percent Tuesday, up from 1.59 late Monday. The price fell 40.6 cents for every $100 invested.

The government reported that orders at factories rose in May. That was an encouraging sign to investors that manufacturers may not be as weak as many had assumed. On Monday, a trade group reported that U.S. manufacturing shrank in June for the first time in three years.

Investors sold low-risk assets Tuesday and put money into stocks. The Dow Jones industrial average rose 72 points to 12,944.

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