TOKYO Feb 28 U.S. Treasuries were steady in
Asian trading on Thursday, caught between rising risk appetite
after reassurance that the Federal Reserve will continue buying
debt and ongoing concerns about looming U.S. spending cuts.
* The yield on 10-year Treasuries fell to 1.89
percent in Asian trade on Thursday, down slightly from 1.90
percent in late U.S. trade on Wednesday.
* The yield on 30-year Treasuries inched up to
3.09 percent, from 3.08 percent on Wednesday.
* Fed chairman Ben Bernanke, speaking before Congress for a
second day on Wednesday, downplayed signs of internal divisions,
saying the policy of quantitative easing has the support of a
"significant majority" of top central bank policymakers.
* "Bernanke let the markets know that the Fed will continue
its stimulus for a while, which was a relief for stocks and
undermined some demand for bonds, but it's hard to sell bonds
with the 'sequester' issue unresolved," said a fixed-income fund
manager at a Japanese asset management firm.
* President Barack Obama and Republican congressional
leaders have not reached a deal to avert automatic government
spending cuts set to begin on Friday.
Economists said these cuts worth $85 billion would hurt the
* On the supply side, the Fed bought $5.02 billion in debt
due 2017 on Wednesday as part of its ongoing asset purchase