MW: Treasurys fall as China leaves interest rates alon
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices fell early Monday, pushing 10-year yields back up towards 6-month highs, after strong Chinese data was released late Friday, but Chinese officials opted not to raise interest rates as so many had anticipated. "Surprise that the Chinese haven't tightened has allowed for a small global stock and commodity rally," said Thomas di Galoma, head of U.S. fixed-income trading for Guggenheim Securities. "Treasurys have taken it on the chin." Economic data is limited in coming days although traders will focus on the Federal Reserve's last meeting of the year on Tuesday. Yields on 10-year notes (UST10Y 3.38, +0.05, +1.57%) , which move inversely to prices, rose 4 basis points to 3.37%.
