Treasuries Close Nearly Flat Following Lackluster Session
Treasuries showed a lack of direction throughout the trading day on Monday before ending the session roughly flat.
Bond prices spent the entire trading day lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 0.671 percent.
The choppy trading on the day came as traders seemed reluctant to make significant moves amid a lack of major U.S. economic data.
In the coming days, traders are likely to keep an eye on reports on industrial production, retail sales, homebuilder confidence and housing starts.
Traders may also have been looking ahead to the Federal Reserve’s latest monetary policy decision scheduled for Wednesday.
The Fed is widely expected to leave rates at near-zero levels but could make tweaks to its accompanying statement. The central bank’s latest economic projections may also attract some attention.
Trading on Tuesday may be impacted by reaction to reports on New York manufacturing activity, import and export prices and industrial production.