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[$$] Weak Economic Data Spurs U.S. Government Bond Rally

A key U.S. government bond yield fell near its lowest levels of the year Friday after a series of reports showed signs of weakness throughout the manufacturing sector, adding to concerns about the U.S. economy. The yield on the 10-year Treasury note, which helps set borrowing costs for consumers, businesses and state and local governments, broke through the bottom of its recent trading range. The 10-year yield began declining at the start of U.S. trading, a fall that accelerated after reports showing manufacturing output, factory orders and other measures of production were weaker than economists had forecast.