Treasuries Pull Back Following Yesterday's Strength

(RTTNews) - Following the strength seen in the previous session, treasuries moved back to the downside during trading on Tuesday.

Bond prices climbed well off their early lows but still ended the day firmly in the red. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.6 basis points to 2.568 percent.

The pullback by treasuries reflected the downward momentum seen for the bond market since President-elect Donald Trump's surprise victory early last month.

Traders seemed to shrug off any geopolitical concerns stemming from an apparent terrorist attack on a Berlin Christmas market and the assassination of the Russian ambassador to Turkey.

Nonetheless, overall trading activity on the day was somewhat subdued, amid another quiet day on the U.S. economic front.

A report on existing home sales may attract some attention on Wednesday, although trading activity may continue to wane going into the holiday weekend.