TREASURIES-U.S. 10-yr notes steady, take breather after selloff
SINGAPORE, April 10
SINGAPORE, April 10 (Reuters) - U.S. 10-year Treasuries held steady in Asia on Wednesday ahead of an auction of the benchmark notes later in the day, getting some respite after a selloff over the past two trading sessions.
* After rallying last week as economic data pointed to continued struggles in the U.S. economy, Treasuries have pulled back this week ahead of auctions of 10-year notes on Wednesday and 30-year bonds on Thursday.
* Ten-year Treasuries held steady in price to yield 1.752 percent. The 10-year yield has bounced after hitting this year's low of 1.677 percent on Friday, when Treasuries rallied on weaker-than-expected jobs data.
* Speculation that the Bank of Japan's radical monetary stimulus could prompt Japanese investors such as life insurers to increase their buying of higher-yielding overseas assets remains a supportive factor for Treasuries, analysts say.
"Such hope, or concern, that Japanese players might buy (Treasuries) seems unlikely to disappear soon," said Tomohisa Fujiki, interest rate strategist for BNP Paribas in Tokyo.
The 10-year yield will probably move in a range of about 1.6 percent to 1.85 percent for the rest of April, he added.
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