India, Feb. 18 -- After moving sharply higher over the two previous sessions, treasuries showed a notable move back to the downside during trading on Tuesday.
Bond prices came under pressure early in the session and slide more firmly into negative territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 7.2 basis points to 4.544 percent.
The pullback by treasuries came as traders cashed in on the strong upward move seen last Thursday and Friday, which saw the ten-year yield plunged by 16.5 basis points.
On the U.S. economic front, a report released by the Federal Reserve Bank of New York showed a turnaround by regional manufacturing activity in the month of Februar...