WASHINGTON (dpa-AFX) - Treasuries saw modest weakness during trading on Monday, extending the pullback seen over the two previous sessions.
Bond prices regained some ground after an early move to the downside but remained in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up 1.7 basis points to 4.437 percent.
The ten-year yield closed higher for the third straight session, climbing further off the one-month closing low set last Wednesday.
The continued weakness among may have reflected lingering uncertainty about the outlook for interest rates, with some Federal Reserve officials warning the central bank may still need to raise rates if inflation persists.
While the likelihood rates will be lower by September remains high, the chances have fallen to 76.3 percent from close to 90 percent last week, according to CME Group's FedWatch Tool.
Trading activity remained relatively subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.
The economic calendar remains relatively quiet throughout the week, although reports on durable goods orders and new and existing home sales may attract some attention along with the minutes of the latest Fed meeting.
Amid another quiet day in terms of U.S. economic data, trading on Tuesday may be impacted by reaction to remarks by several Fed officials.
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