US bonds turn flat as Wall Street rallies

NEW YORK: US Treasuries prices turned flat on Monday, reversing much of their earlier gains, as Wall Street stocks staged a rally in late trading, reducing the safe-haven appeal of government debt.

The three major Wall Street indexes struggled much of the session on disappointing data on consumer spending and manufacturing sector.

The Standard & Poor's 500 index and Dow Jones industrial average were up more than 1 percent shortly before the market close.

Benchmark 10-year Treasuries prices were unchanged with a yield of 1.681 percent. They were up as much as 9/32 with a yield of 1.649 percent in earlier trading.