NEW YORK, Jan 4 (Reuters) - U.S. Treasuries prices weakened after the Institute for Supply Management’s non-manufacturing index was stronger than expected in December.
The benchmark 10-year Treasury note, near unchanged just before the report came out, was down 4/32 afterwards, its yield rising to 1.94 percent from 1.92 percent late on Thursday.
The U.S. services sector in December grew at its fastest clip in 10 months - rising to 56.1 last month from 54.7 in November - boosted by a rise in new orders. The December reading was the highest since February and was well above economists’ forecasts of 54.2, according to a Reuters poll.
A reading above 50 indicates expansion in the sector.