NEW YORK — Bond prices fell Monday in an abbreviated, pre-holiday trading session that ended at 2 p.m.

The bond market will be closed Tuesday in observance of the Christmas holiday.

On Monday, the price of the benchmark 10-year Treasury note dropped 13/32 point, or $4.06 cents per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 5.13 percent from 5.08 percent late Friday.

The 30-year Treasury bond slipped 5/8 point to yield 5.49 percent, up from 5.45 percent on Friday, according to Moneyline Telerate.

The Dow Jones industrial average ended unchanged at 10,035.34 after an abbreviated trading session that ended at 1 p.m. Eastern time. U.S. markets were scheduled to re-open on Wednesday. The Nasdaq composite index dropped 1.35, or nearly 0.1 percent, to 1,944.48.

In other bond trading, the benchmark 2-year note fell 1/16 point to yield 3.15 percent.

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Yields on one-month Treasury bills were 1.64 percent as the discount held steady at 1.63 percent. Yields on three-month Treasury bills were 1.71 percent as the discount rose 0.02 percentage point to 1.69 percent. Six-month yields were 1.80 percent, as the discount rose 0.01 percent to 1.77 percent.

Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.

The federal funds rate, the interest on overnight loans between banks, fell to 1.69 percent from 1.81 percent late Friday.

In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds was at 102 13/32 Monday, unchanged from Friday. The average yield to maturity remained steady at 5.39 percent.

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