NEW YORK (CNNMoney.com) -- Treasurys fell Monday after the Obama administration unveiled a $3.8 trillion budget and a report showed personal income rose in December.
What prices are doing: The benchmark 10-year note was down 18/32 to 97-23/32, pushing the yield up to 3.66% from 3.62% late Friday. Prices and yields move in opposite directions.
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| Click on chart to view bond prices. |
The 30-year bond fell 1-7/32 to 96-30/32 and its yield was 4.57%. The 2-year note edged down 3/32 to 100-1/32 and yielded 0.86%.The 5-year note fell 8/32 to 99-13/32, and yielded 2.39%.
What's driving prices: President Obama revealed a $3.8 trillion budget for 2011 on Monday, aiming to promote continuing government spending and while controlling the nation's deficit. The budget would reduce debt by $1.2 trillion over the next 10 years.
The Commerce Department said personal income was up 0.4% in December, beating the 0.3% increase expected by economists surveyed by Briefing.com. Personal spending edged up 0.2%, below the 0.3% rise predicted by analysts.
What analysts are saying: "The real story of today is the unveiling of Mr. Obama's budget -- that's what it's all about," said Peter Cardillo, a chief market strategist at Avalon Partners.
"We have a lot of things coming out this week, including the granddaddy report which is employment data." Positive jobs data and a lower level of unemployment will pressure bond prices, he said.
And as the economy continues to show signs of recovery in 2010, yields will rise, pushing bond prices lower, said Cardillo. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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