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Treasuries were lower across the board following Friday's

consumer price index data, which showed that prices paid for items, excluding food and energy, rose 0.2% in October.

The Labor Department data showed that the overall CPI fell 0.3% and bolstered the notion that the

Federal Reserve is nearing the end of its aggressive easing cycle. Around midday, the two-year note was off 2/32 to 99 17/32, yielding 3%. The five-year was off 8/32 to 97 2/32 to yield 4.16%. The 10-year Treasury was losing 9/32 to 101 18/32 to yield 4.80%, and the 30-year bond, which is being discontinued, was down 9/32 to 102 1/32 to yield 5.24%.

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In other economic news, the Fed said industrial production dropped for the 13th straight month in October.