NEW YORK Nov 29 U.S. government debt prices
turned higher midday Thursday after remarks from U.S. House of
Representatives Speaker John Boehner reduced hopes of a budget
deal soon, stoking safehaven demand for bonds before a $29
billion auction of seven-year notes.
The top Republican lawmaker said there has been no
substantive progress in recent weeks in talks to avoid the
"fiscal cliff," which is a series of tax hikes and spending cuts
that will phase in next year if a budget compromise is not
reached before year-end.
Benchmark 10-year Treasury notes were up 3/32 in
price with a yield of 1.625 percent, down 0.9 basis point from
late on Wednesday.