Bond prices trim losses after US factory data

NEW YORK: Prices on US government debt pared losses early Monday after a private report suggested the US manufacturing sector contracted in November, stoking worries about economic growth.

The Institute for Supply Management said its US factory index unexpectedly fell to 49.5 in November from 51.7 in October.

A reading below 50 indicates manufacturing is contracting.

Benchmark 10-year Treasuries prices were 6/32 lower with a yield of 1.634 percent.

They were down 8/32 with a 1.642 percent yield prior to the release of the ISM data.