WASHINGTON (dpa-AFX) - Treasuries showed a lack of direction over the course of the trading session on Monday before closing the day roughly flat.
Bond prices moved to the upside in morning trading before pulling back near the unchanged line in the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 2.385 percent.
Traders seemed reluctant to make significant moves ahead of the Federal Reserve's monetary policy announcement on Wednesday.
With the Fed widely expected to raise interest rates by a quarter point, traders are likely to keep a close eye on the accompanying statement as well as outgoing Fed Chair Janet Yellen's press conference for clues about the outlook for future rate hikes.
Economic reports on producer and consumer prices, retail sales, and industrial production may also attract some attention this week.
Trading activity on Tuesday is likely to remain subdued, although a report on producer price inflation may attract some attention.
Copyright RTT News/dpa-AFX