The rate-indicative 10-year Treasury bond yield had risen to a level just shy of 4.4% as of noon on Friday.The yield had previously been trading in a range closer to 4.2% and 4.3%, according to Yahoo! Finance. The increase in yield Friday morning followed the release of strong December data from the Institute of Supply Management. The data provided "significant encouragement for prospects in the first quarter of 2004," according to the ISM.

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