India, Feb. 13 -- Following the steep drop seen during Wednesday's session, treasuries showed a strong move back to the upside during trading on Thursday.
Bond prices surged in morning trading and remained firmly positive throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, plunged 11.2 basis points to 4.525 percent.
The ten-year yield more than offset the 10.0 basis point spike seen in the previous session but remains well off its recent one-month lows.
The substantial rebound by treasuries came after the Labor Department released its report on producer price inflation in the month of January.
While the headline number rose by more than expected, components of the Federal R...