After moving notably lower over the two previous sessions, treasuries showed a lack of direction during trading on Monday.
Bond prices spent much of the day lingering near the unchanged line before closing roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 2.553 percent.
The choppy trading on the day came as traders looked ahead to the release of some key economic data in the coming days, including reports on industrial production, retail sales, and housing stocks.
Bond traders are also likely to keep an eye on Wall Street’s reaction to a slew of quarterly results from several big-name companies.
Overall trading activity may remain somewhat subdued, however, as the holiday on Friday may keep some traders away from their desks.
Traders largely shrugged off a report from the New York Federal Reserve showing growth in regional manufacturing activity picked up somewhat in April but remained fairly subdued.
The New York Fed said its headline general business conditions index climbed to 10.1 in April after falling to 3.7 in March, with a positive reading indicating growth in regional manufacturing activity.
Trading on Tuesday may be impacted by reaction to a pair of U.S. economic reports on industrial production and homebuilder confidence.
The material has been provided by InstaForex Company – www.instaforex.com