Treasury Prices Decline; 10-Year Yield at 4.558%

Treasury-bond prices gave up most of their early gains yesterday, with longer-dated notes finishing lower, amid gains in stocks as data on manufacturing activity and auto sales last month beat expectations.The benchmark 10-year note fell 3/32 point, or $0.9375 per $1,000 face value, to 101 17/32. Bond markets were closed Monday for Labor Day. Its yield rose to 4.558% from 4.547% Friday, as yields move inversely to prices. The two-year note was up 1/32 point to yield 4.14%, while the bond equivalent yield on the three-month Treasury bill rose to 4.568%.In the absence of anything alarming in the most up-to-date economic reports, investors remain driven by the mood elsewhere in financial markets, The market is thin, and people are trying to trawl through a lot of information, so they're taking their cue from stocks.