WASHINGTON (dpa-AFX) - After showing a lack of direction early in the session, treasuries moved to the downside over the course of the trading day on Monday.
Bond prices bounced back and forth across the unchanged line in morning trading before sliding a little more firmly into the red in the afternoon.
Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 2.8 basis points to 4.452 percent.
The ten-year yield added to the 6.7 basis point jump seen last Friday, climbing further off the one-month closing low set last Thursday.
The weakness that emerged among treasuries came even as the clash between Israel and Iran continued over the weekend, as traders appear optimistic the conflict will remain relatively contained.
A report from the Wall Street Journal citing Middle Eastern and European officials said Iran has been urgently signaling that it seeks an end to hostilities and resumption of talks over its nuclear programs.
The downward move also came as traders looked ahead to a meeting of major world leaders at the G7 summit in the Canadian Rockies later this week.
Traders will be looking to the meeting for signs of progress on trade deals ahead of the end of President Donald Trump's 90-day pause on 'reciprocal tariffs' early next month.
The Federal Reserve's latest monetary policy announcement is also likely to attract attention from traders in the coming days.
While the central bank is widely expected to leave interest rates unchanged, the accompanying statement and Fed officials' latest projections may provide more clarity about the outlook for rates.
Trading on Tuesday may be impacted by reaction to a batch of U.S. economic data, including reports on retail sales and industrial production.
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