The yield on benchmark 10-year Treasury notes was last at 4.88%, after breaching the 5% mark in the previous session.
The benchmark index has fallen sharply from its July highs on worries the Federal Reserve could keep its monetary policy restrictive for longer than expected against the backdrop of a still-strong economy.U.S. business output ticked higher in October as the manufacturing sector grew after contracting for five straight months while services activity accelerated modestly amid signs of easing inflationary pressures.dipped 0.
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