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Bond Report: Treasury yields log largest daily jump in 2 weeks

Treasury prices fell Monday, leading yields to climb by the largest amount in two weeks, after a report on U.S. manufacturing came in slightly below expectations but still at its second-highest level in over a year.

The July ISM Manufacturing Index fell to 52.6 from 53.2 in June, which indicated that manufacturing activity grew at a slightly slower rate in July but continued to expand at a mild pace that is likely to offer the broader economy more support. Analysts from Jefferies pointed out that the index was still at its second-highest reading since June 2015.

Meanwhile, spending on construction tumbled 0.6% in June, with declines spread evenly across the private and public sectors.

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