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Treasuries Move To The Downside Ahead Of Inflation Data

After moving higher over the course of the previous session, treasuries moved back to the downside during trading on Monday.

Bond prices climbed off their worst levels after seeing initial weakness but pulled back into the red as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed by 2.8 basis points to 2.857 percent.

With the increase during the session, the ten-year yield ended the session at its highest closing level in four years.

The pullback by treasuries came as traders looked ahead to release of reports on consumer and producer price inflation in the coming days.

Traders have recently expressed concerns that rising inflation will lead the Federal Reserve to raise interest rates faster than previously anticipated.

The economic calendar remains relatively quiet on Tuesday, potentially leading to a choppy trading day in the bond market

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