India, June 4 -- After giving back ground after an early advance and ending the previous session roughly flat, treasuries showed a strong move back to the upside during trading on Wednesday.
Bond prices moved sharply higher in morning trading and remained firmly positive throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, plunged 9.5 basis points to 4.365 percent.
With the steep drop on the day, the ten-year yield tumbled to its lowest closing level in almost a month.
Treasuries benefitted from their appeal as a safe haven following the release of some weaker than expected U.S. economic data.
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