Market commentary

Treasury prices are slightly improved early Monday morning with the yield on the 10 year note dropping from 2.55% to 2.54%. Fed Chairman Bernanke speaks at 8:30 AM, ET and existing home sales data will be released at 10:00 AM, ET. Keep in mind, the bond market is preparing for this week’s new supply as the U.S. Treasury will be issuing 2 yr, 5 yr and 7 yr notes.