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Stone said stocks are trading sideways in part because many investors are awaiting economic reports later this week, especially the employment report. There is agreement among economists and analysts that the economy slowed in the fourth quarter, he said, and this week’s numbers will help answer the question of "how slow, and how much did it impact employment."
The yield in the benchmark 10-year Treasury note rose to 1.97 percent from 1.95 percent late Friday, reflecting lower demand for ultra-safe investments. After Monday’s factory orders report, the yield rose briefly above 2 percent for the first time since April. A bond’s yield rises as demand for it decreases.
Daniel Wagner can be reached at www.twitter.com/wagnerreports .
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