Treasuries Close Modestly Higher After Quiet Trading Day

(RTTNews) - Treasuries moved modestly higher over the course of the trading session on Monday after ending last Friday's trading roughly flat.

Bond prices hovered in positive territory going into the close of trading. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 1.4 basis points to 2.180 percent.

The modestly higher close by treasuries came as traders continued to express concerns about President Donald Trump's ability to implement his pro-business agenda.

Trump is scheduled to deliver an address to the nation on his administration's strategy for Afghanistan at 9 pm ET.

Trading activity remained relatively subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines.

Federal Reserve Chair Janet Yellen is scheduled to speak at the Fed's economic policy symposium in Jackson Hole, Wyoming, on Friday, and traders are likely to keep an eye on her remarks for clues about the outlook for monetary policy.

Reports on new and existing home sales and durable goods orders are also likely to attract attention in the coming days.

Trading activity may remain somewhat subdued on Tuesday amid another quiet day on the U.S. economic front.