Today is a fairly quiet Monday morning in the bond market with no economic data on this morning’s calendar, but plenty of data will be forthcoming this week. Economic reports including Retail Sales and the Producer Price Index, in addition to auctions of 3 year, 10 year and 30 debt by the U.S. Treasury should make for continued volatility this week.
Last week, the first trading week of 2011, saw the resumption of volatility with the yield on the 10 year note trading as high as 3.49% and a low yield of 3.26%, closing the week at 3.30%. This morning we see a slight improvement in bonds with the yield on the 10 year note falling to 3.285%.
Europe is back in the news this morning as the European Central Bank is temporarily buying Portuguese debt in efforts to support that country as they enter the market this week for additional sales of their sovereign debt.
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