• Most Popular
  • Most Shared

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

TREASURIES-Longer-dated notes inch up after solid auction

Related Topics

TOKYO, March 11 | Wed Mar 10, 2010 10:27pm EST

TOKYO, March 11 (Reuters) - Longer-dated U.S. Treasuries inched up in Asia on Thursday as a smooth 10-year government debt sale the previous day helped soothe jitters ahead of a 30-year auction.

* There was strong demand for the Treasury's $21 billion reopening of a 10-year note issue it auctioned in early February. [ID:nN10142527]

* Analysts said the higher yields offered at the long-end of the Treasury curve were likely to help the 30-year auction later on Thursday attract investor demand. The Treasury will offer $13 billion of 30-year notes in a reopening of an issue sold last month.

* Investors are paying considerable attention to bond auctions given the burgeoning U.S. budget deficit that has been fuelled by a financial sector bailout and efforts to stimulate the economy.

* "Few are expressing concerns over today's auction thanks to a good 10-year auction," said Jun Kato, senior chief analyst at Shinkin Central Bank Research Institute. "We expect decent demand from overseas investors for U.S. Treasuries -- the most liquid government debt in the world."

* T-note futures were unchanged on the day at 116-28/32 TYv1. Benchmark 10-year notes rose 2/32 in price to yield 3.714 percent US10YT=RR, down 1 basis point from late U.S. trade.

* Two-year notes were unchanged in price to yield 0.908 percent US2YT=RR, while 30-year bonds rose 4/32 in price to yield 4.685 percent US30YT=RR, down 1 basis point.

* Investors will also look to weekly jobless claims data at 1330 GMT. The 30-year auction is likely to benefit if the weekly employment report produces weaker-than-expected figures, analysts said. [ECI/US] (Reporting by Rika Otsuka; Editing by Joseph Radford)