US bond prices up on drop in durable goods orders

NEW YORK: US Treasuries prices rose on Monday after the government reported a bigger-than-expected drop in orders for long-lasting manufactured goods in July.

The 10-year Treasury note rose 8/32. Its yield eased to 2.79 percent from 2.82 percent late on Friday.

The Commerce Department said orders for durable goods fell 7.3 percent, more than the 4.0 percent drop economists polled by Reuters had forecast and the sharpest drop in nearly a year.