2024.02.1219:12:00UTC+00Treasuries Fluctuate Before Closing Modestly Higher

Treasuries fluctuated over the course of the trading session on Monday before eventually ending the day modestly higher.

After an early move to the upside, bond prices gave back ground over the course of the morning but rebounded in the afternoon.

Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.5 basis points to 4.172 percent.

The modest decrease on the day came after the ten-year yield ended last Friday's trading at its highest closing level in almost two months.

Treasuries showed a lack of direction as traders seemed reluctant to make significant moves ahead of the release of several key economic reports in the coming days.

On Tuesday, the Labor Department is due to release its report on consumer price inflation in the month of January, which could have a significant impact on the outlook for interest rates.

Reports on retail sales, industrial production, producer price inflation and consumer sentiment are also likely to attract attention later in the week.