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TREASURIES-Short-dated U.S. Treasuries firm after Bernanke
January 7, 2011 / 2:50 PM / in 7 years

TREASURIES-Short-dated U.S. Treasuries firm after Bernanke

NEW YORK, Jan 7 (Reuters) - Short-dated U.S. Treasuries prices firmed slightly on Friday after Federal Reserve Chairman Ben Bernanke said the economic recovery was continuing but not at a pace sufficient to cut the jobless rate significantly.

“Bernanke’s comments look bullish for bonds,” said Thomas di Galoma, head of fixed-income rates trading at Guggenheim Securities in New York.

In testimony Friday before the U.S. Senate Budget Committee, Bernanke said it could take “four to five more years for the job market to normalize fully.”

While short-term U.S. debt prices US2YT=RR rose, the 30-year bond US30YT=RR, wary of long-term prospects for inflation, augmented losses to fall a point, its yield rising to 4.575 percent.

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