Treasuries Show Notable Move Back To The Upside

(RTTNews) - Following the downturn seen over the course of the previous session, treasuries moved back to the upside during trading on Monday.

Bond prices moved higher early in the session and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 5.5 basis points to 3.515 percent.

Treasuries may have benefited from their appeal as a safe haven ahead of the release of some key economic data later this week.

Traders are likely to keep an eye reports on consumer confidence, new home sales, durable goods orders, first quarter GDP and personal income and spending.

The personal income and spending report includes a reading on inflation said to be preferred by the Federal Reserve and could impact the outlook for interest rates ahead of the Fed meeting next week.

Trading on Tuesday may be impacted by reaction to the latest U.S. economic data, including reports on home prices, new home sales and consumer confidence.