India, Oct. 15 -- Treasuries have moved sharply higher during trading on Thursday, extending the upward move seen over the course of the previous session.
Bond prices surged early in the session and have remained firmly positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, has plunged 9.7 basis points to 5.093 percent.
The rally by treasuries comes despite the release of a report from the Labor Department showing producer prices in the U.S. shot up by much more than expected in the month of September.
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