10-year yield hits 20-month high
Treasury prices stumble following stronger-than-expected factory orders; dollar strengthens.
NEW YORK (CNNMoney.com) - Bond prices slipped Monday as investors digested another installment of economic data, pushing the yield on the benchmark note to its highest level in over a year-and-a-half.
The dollar climbed against the euro and the yen.
The benchmark 10-year Treasury note fell 10/32 to 98-09/32, pushing its yield to 4.72 percent, its highest level since June 2004, and up from 4.69 percent late Friday.
The 30-year bond tumbled 24/32 to 96-20/32, yielding 4.71 percent, up from 4.66 the previous session. Bond prices and yields move in opposite directions.
The five-year note declined 4/32 to yield 4.74 percent, and the two-year note was relatively unchanged, yielding 4.76 percent.
Treasury prices declined after the government reported that factory orders in the U.S. declined 4.5 percent to their lowest level in 5-1/2 years on weaker aircraft and computer orders.
Analysts polled by Reuters anticipated a decline of 5.3 percent.
Investors will also be looking ahead to the National Association of Realtors' pending home sales for January due out later Monday.
In currency trading, the euro bought $1.2009, down from $1.2039 late Friday, while the dollar bought ･117.59 up from ･116.39 in the previous session.
Investors waded choppy waters on Monday despite low oil prices -- get the full story here.
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