Bonds Close Lower

In the absence of data, Monday's session moved on supply factors. The 10-year Treasury note lost 8/32 to close at 100 11/32. Yields were up to 4.22%. The Treasury's first leg of refunding -- $22 billion of three-year treasurys -- started today. But even after a stellar auction, the bond market could not make any gains. Prices were flat into the close.