India, Nov. 12 -- Following the Veterans Day holiday on Wednesday, treasuries have moved sharply lower during trading on Thursday, extending the slump seen on Tuesday.
Bond prices moved steadily lower throughout the morning before moving roughly sideways in afternoon trading. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, has jumped 12.0 basis point to 5.109 percent.
The steep drop by treasuries comes amid a sharp increase in the price of crude oil, with U.S. crude oil futures surging by 3 percent.
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