TREASURIES-Bonds rise on Boehner "fiscal cliff" remarks

NEW YORK Thu Nov 29, 2012 11:56am EST

Related Topics

NEW YORK Nov 29 (Reuters) - U.S. government debt prices turned higher midday Thursday after remarks from U.S. House of Representatives Speaker John Boehner reduced hopes of a budget deal soon, stoking safehaven demand for bonds before a $29 billion auction of seven-year notes.

The top Republican lawmaker said there has been no substantive progress in recent weeks in talks to avoid the "fiscal cliff," which is a series of tax hikes and spending cuts that will phase in next year if a budget compromise is not reached before year-end.

Benchmark 10-year Treasury notes were up 3/32 in price with a yield of 1.625 percent, down 0.9 basis point from late on Wednesday.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article