Treasuries showed a lack of direction over the course of the trading session on Tuesday before ending the session slightly higher.
Bond prices bounced back and forth across the unchanged line but move to the upside going into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by nearly a basis point to 2.544 percent.
The choppy trading on the day came as traders seemed reluctant to make significant moves following recent volatility.
On the U.S. economic front, growth in activity in the New York manufacturing sector slowed in the month of January, according to a report released by the Federal Reserve Bank of New York.
The New York Fed said its general business conditions index dropped to 17.7 in January from an upwardly revised 19.6 in December. A positive reading still indicates growth in regional manufacturing activity.
Trading on Wednesday may be impacted to reaction to reports on industrial production in December and homebuilder confidence in January.
The Federal Reserve is also scheduled to releases its Beige Book, which may shed additional light on the outlook for interest rates.
The material has been provided by InstaForex Company – www.instaforex.com
Disclaimer: Please note all prices are for information only, they should not be relied upon for accuracy or trading. All prices quotes are based on CFD prices and are similar though not always identical to real exchange prices. STOCKTRKR or anybody connected with STOCKTRKR will not accept any liability for loss or damage arising from use of any information/commentary/charts or articles which is provided 'as is' for educational purposes only, nothing contained on this website should be considered as investment advice - please seek proper investment advice from registered financial broker or institution if you wish to trade on global markets and ensure you are familiar with the risks.
