A surprising rally in the bond market pushed rate to record lows, triggering a surge in stock prices to historic highs. The yield on the 30-year Treasury bond finished at 6.4% Monday afternoon, down five basis points from Friday's close, and the lowest yield since the Treasury began issuing the long bond in 1977.

In when-issued trading, the 30-year bond to be auctioned on Thursday fell to 6.93%.

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