WASHINGTON (dpa-AFX) - After moving lower over the course of the morning, treasuries regained ground in the latter part of the trading day on Monday.
Bond prices climbed well off their lows late in the session, ending the day roughly flat. 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 4.864 percent.
Treasuries ended the day little changed as traders looked ahead to the release of a closely watched report on consumer price inflation data on Tuesday.
The Labor Department report is expected to show consumer prices increased by 0.3 percent in October, with the annual rate of growth accelerating to 3.9 percent in October from 3.7 percent in September.
Core consumer prices, which exclude food and energy prices, are expected to rise by 0.2 percent. The annual rate of growth by core prices is expected to increase to 2.8 percent in October from 2.6 percent in September.
The data could have an impact on the outlook for interest rates ahead of the Federal Reserve's monetary policy decision next month.
CME Group's FedWatch Tool is currently indicating an 84.5 percent chance the Fed will raise rates by a quarter point at its December meeting.
Following the Veterans Day holiday on Wednesday, a separate report on producer price inflation is due to be released on Thursday.
The lackluster performance by treasuries came despite a nosedive by the price of crude oil, with U.S. crude oil futures plummeting by more than 5 percent.
Crude oil futures are under pressure after President Donald Trump said he was 'highly unlikely' to order more attacks on Iran as long as talks continue on Iran's nuclear program and reopening the Strait of Hormuz.
However, Secretary of State Marco Rubio later told reporters that talks with Iran have not been very productive because the Iranian demands are 'outrageous and ridiculous and really not realistic.'
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