WASHINGTON (dpa-AFX) - After trending lower over the past several sessions, treasuries showed a notable move back to the upside during trading on Monday.
Bond prices advanced early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 4.6 basis points to 4.141 percent.
The ten-year yield closed lower for just the second time in the past nine sessions, pulling back off its highest closing level in three weeks.
Treasuries may have benefitted from their appeal as a safe haven amid concerns about the possibility of a U.S. government shutdown.
Lawmakers must pass legislation funding the government by a deadline of 12:01 a.m. ET on Wednesday or face a shutdown.
Democrats have demanded that the temporary funding bill include an extension of enhanced Obamacare tax credits, while Republicans argue the issue should be debated after a funding bill is passed.
President Donald Trump is set to meet with Congressional leaders today to discuss avoiding a shutdown, although he has previously cast doubt on whether meeting with Democrats would be productive.
The rebound by treasuries also came as traders looked ahead to the release of the Labor Department's closely watched monthly jobs report on Friday.
The report, which is expected to show employment rose by 50,000 jobs in September, could impact the outlook for interest rates, although the Labor Department has indicated the release of the data could be delayed if the government shuts down.
Reports on job openings and consumer confidence may attract attention on Tuesday, while traders are also likely to keep an eye on any last-minute developments in Washington.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
