India, May 15 -- Treasuries showed a strong move to the upside during trading on Thursday, regaining ground after trending lower over the past several sessions.
Bond prices moved sharply higher in morning trading before moving roughly sideways throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 7.3 basis points to 4.455 percent.
With the steep drop on the day, the ten-year yield gave back ground after ending Wednesday's trading at a nearly three-month closing high.
The pullback by treasuries came following an avalanche of U.S. economic data, including a Labor Department report showing producer prices unexpectedly decreased in the month of April.
The Labor Departmen...