Treasuries finished lower in price on Monday. Follow-through selling from last week's corrective slump pushed yields to 3-week highs early in Monday's session, but the move ran out of gas as stocks pared their early sharp gains over the course of the session, says Action Economics. The yield on the 10-year note settled at 4.17%.
The sole data release was factory goods orders, which declined 0.1% in August after an upwardly revised 1.7% gain in July.
Fedspeak was rampant and most remarks from that policy crew were relatively upbeat on the economy, overcoming taxing headwinds from the high cost of oil, says Action Economics.