The rate-indicative 10-year Treasury yield rose above 4.4% Monday morning following the release of stronger-than-expected manufacturing statistics.The main statistic in the November ISM manufacturing report reached a high not seen since 1983, according to a report by RBS Greenwich Capital Markets. The manufacturing report is "good for stocks, bad for bonds," according to Mortgage Market Guide, an interest rate consulting service for originators. The jump in the 10-year's yield puts it back where it was before its downward shift on Nov. 17, when it fell just below 4.2%.

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