Treasuries Close Nearly Flat Following Choppy Trading Day

(RTTNews) - Treasuries showed a lack of direction throughout much of the trading day on Tuesday before ending the session roughly flat.

Bond prices spent the session bouncing back and forth across the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 2.825 percent.

With the slight decrease on the day, the ten-year yield ended the session at its lowest closing level in over a month.

The choppy trading seen throughout the session came as many traders remained on the sidelines amid a lack of major U.S. economic data.

The economic calendar remains relatively quiet throughout much of the holiday-shortened week, although reports on weekly jobless claims and existing home sales are likely to attract some attention on Thursday.

While the data does not typically attract much attention, trading on Wednesday could be impacted by the Mortgage Bankers Association's weekly report on mortgage applications.