Treasurys drop after strong manufacturing report Jan 3 01:40 PM US/Eastern By The Associated Press Associated Press Signs of economic strength are pushing Treasury prices lower on the first trading day of the new year. The Institute for Supply Management said Tuesday that manufacturing expanded in December at the fastest clip in six months. In a separate report, the government said construction spending rose 1.2 percent in November, more than double the rate economists had expected. The encouraging economic reports sent stock indexes up and lured traders out of the safety of U.S government bonds. The 10-year Treasury note is down 56.2 cents for every $100 invested in Tuesday afternoon trading. Its yield rose to 1.94 percent from 1.88 percent late Friday. The yield on the 30-year bond rose to 2.97 percent from 2.89 percent. U.S. bond trading was closed Monday for the New Year's holiday.