Looking ahead, Wednesday's Greenspan comments and Thursdays economic calendar are keys this week. However, failure of U.S. shares to garner any meaningful traction above 1120 for the S&P 500 index will keep Treasuries coiled for one more thrust higher near term before topping out.
Markets & Finance
Treasuries End Lower
Treasuries ended lower after much stronger than expected existing home sales data, which helped spark a rally in U.S. stocks. The retreat in Treasuries was mildly deeper than expected, says S&P MMS. The lack of impulsive losses, however, implies that another rally to challenge Friday's highs should develop in the short run. Despite the looming 2-year auction, the yield curve finished unchanged and confined to narrow ranges.