US Treasury Markets
11/20/2009 3:48 PM ET
(RTTNews) -
Treasuries were little changed on Friday, as a lack of major economic catalysts prompted sluggish trading in the bond markets.
The benchmark ten-year note opened modestly higher but ceded its early gains, ending the day near the unchanged mark. Subsequently, the yield on the note, which moves opposite of its price, closed at 3.356 percent, a gain of less than one basis point.
The ten-year yield fell by 7.3 basis points for the week, moving essentially sideways after showing a notable decline on Monday, with the week's standstill economic data prompting choppy trading.
Next week, the bond markets may see reaction to the results of the Treasury Department's latest bond auctions and a series of economic reports.
Thursday, the Treasury revealed that it would offer $118 billion in securities next week. The Treasury said it would sell $44.0 billion in two-year notes, $42.0 billion in five-year notes and $32.0 billion in seven-year notes along with its standard fare of three and six month bills.
Aside from the week's security sales, traders are also likely to focus on data on new and existing home sales, consumer confidence, and the latest revision to third quarter GDP, along with the customary jobless claims report.
However, trading activity may be somewhat subdued next week due to the Thanksgiving Day holiday on Thursday.
by RTT Staff Writer
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