(RTTNews) – After trending lower over the past several sessions, treasuries moved back to the upside during trading on Monday.
Bond prices rose early in the session and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.2 basis points to 4.165 percent.
Treasuries benefitted from their appeal as a safe haven amid some concerns about the latest geopolitical developments.
Over the weekend, a U.S. attack on the Venezuela led to the capture of President Nicolás Maduro, while traders also kept an eye on the latest news regarding the Russia-Ukraine war.
The strength among treasuries also came after a report released by the Institute for Supply Management showed its reading on U.S. manufacturing activity unexpectedly decreased in the month of December.
The ISM said its manufacturing PMI edged down to 47.9 in December after slipping to 48.2 in November, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 48.3.
With the unexpected dip, the manufacturing PMI dropped to its lowest reading of 2025.
Amid a relatively quiet day on the U.S. economic front, trading on Tuesday may be impacted by reaction to the latest geopolitical developments.
Read more on NASDAQ Stock Market
