TOKYO, June 24 U.S. Treasuries prices slipped in
Asia on Monday, extending last week's dismal performance with
the benchmark 10-year yield posting its biggest weekly rise
since November 2001 after the Federal Reserve signalled it might
scale back its stimulus.
* The yield on 10-year notes added 2.6 basis
points to 2.5684 percent, hitting its highest in almost two
* The benchmark yield jumped 41.3 basis points last week,
according to Reuters data, after Fed Chairman Ben Bernanke laid
out the roadmap on how the U.S. central bank might roll back its
$85 billion monthly purchases of Treasuries and mortgage-backed
* "The tapering of QE is the major driver of the sell-off,"
said Yuya Yamashita, rates strategist at JPMorgan in Tokyo.
"The sell-off might have been excessive. It wouldn't be a
surprise if U.S. Treasuries have a small reversal from the
recent sell-off once the position unwinding has eased."
* The yield on 30-year notes was steady at
3.5978 percent, not far from a near two-year high of 3.6010
percent touched in U.S. trade on Friday.