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Treasuries Give Back Ground Following Recent Rebound

Following the rebound seen over the two previous sessions, treasuries moved back to the downside during trading on Tuesday.

Bond prices moved to the downside in morning trading but gave back some ground in the afternoon. As a result, the yield on the benchmark ten-year note which moves opposite of its price, dipped by 1.6 basis points 2.89 percent.

The pullback by treasuries came as traders are digesting recent volatility and expressing some uncertainty about the near-term outlook for the markets.

Traders were also reluctant to make more significant moves amid a quiet day on the U.S. economic front.

The Federal Reserve is scheduled to release the minutes of its latest monetary policy meeting on Wednesday, potentially shedding light on the outlook for interest rates.

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