Treasuries showed a lack of direction over the course of the trading session on Monday ahead of the release of key economic data.
Bond prices spent the day bouncing back and forth across the unchanged line before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its prices, inched up by less than a basis point to 2.292 percent.
The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of the monthly jobs report on Friday.
The report is expected to show employment climbed by 180,000 jobs in July, while the unemployment rate is expected to dip to 4.3 percent.
Reports on personal income and spending, manufacturing and service sector activity, and international trade are also likely to attract attention in the coming days.
On the U.S. economic front, the National Association of Realtors released a report showing pending home sales rebounded by more than expected in the month of June.
NAR said its pending home sales index jumped by 1.5 percent to 110.2 in June after falling to 108.6 in May. Economists had expected pending home sales to climb by 1.0 percent.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
A separate report from MNI Indicators showed growth in Chicago-area business activity slowed by more than anticipated in the month of July.
MNI Indicators said its Chicago business barometer tumbled to 58.9 in July from 65.7 in June. While a reading above 50 still indicates growth, economists had expected the index to drop to 61.0.
Trading on Tuesday may be impacted by reaction to reports on personal income and spending, manufacturing activity and construction spending.
The material has been provided by InstaForex Company – www.instaforex.com