WASHINGTON (dpa-AFX) - Treasuries saw some weakness during trading on Monday, giving back ground following recent strength in the bond market.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.8 basis points to 4.199 percent.
The pullback by treasuries may partly have reflected profit taking after the ten-year yield hit its lowest closing level in well over a month last Friday.
Traders were also looking ahead to the release of closely watched U.S. inflation data later in the week.
Reports on consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could impact the outlook for interest rates.
While the Federal Reserve is widely expected to lower rates by another 25 basis points next week, there is some uncertainty about whether the central bank will continue cutting rates early next year.
Looking ahead, trading activity on Tuesday may be somewhat subdued amid a relatively day on the U.S. economic front.
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