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The yield on the 10-year Treasury was as high as 2.73 percent on Monday morning, after a volatile Friday, when it ended the day at 2.74 percent.

Trading volume may have been low during the holiday-shortened week, but the equity markets made a strong push higher on Friday after a better-than-expected payroll report. The S&P 500 climbed 1.63 percent, but the small-cap Russell 2000 Index was the strongest performer with a gain of 2.87 percent.

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