2017.05.2215:20:00UTC+00Treasuries Close Slightly Lower Following Lackluster Session

Treasuries showed a lack of direction throughout much of the trading session on Monday before eventually ending the session Slightly lower.

Bond prices spent most of the day lingering near the unchanged line but moved to the downside going into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by nearly a basis point to 2.254 percent.

The choppy trading seen throughout most of the day came as a light day on the U.S. economic front kept many traders on the sidelines.

Later this week, trading may be impacted by reaction to reports on new and existing home sales and durable goods orders.

The Federal Reserve is also due to the release the minutes of its latest monetary policy meeting, which may shed some light on the outlook for interest rates.

A report on new home sales in the month of April is likely to attract attention on Tuesday. New home sales are expected to drop to 604,000 in April from 621,000 in March.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $26 billion worth of two-year notes.