India, Oct. 1 -- After extending their recent downward trend early in the session, treasuries showed a significant turnaround over the course of the trading day on Thursday.
Bond prices climbed well off their worst levels of the day and firmly into positive territory. As a result, the yield on the benchmark ten-year, which moves opposite of its price, slumped 6 basis points to 5.24 percent.
The rebound by treasury yields may have partly reflected bargain hunting following recent weakness, which drove the ten-year yield to its highest levels since April 2002.
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