July 11, 2013 / 1:31 PM / 4 years ago

TREASURIES-U.S. bond prices pare gains

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NEW YORK, July 11 (Reuters) - U.S. government debt prices trimmed gains on Thursday with longer-dated issues hitting session lows, as traders turned their focus to the upcoming $13 billion auction of 30-year bonds.

The bond market rallied overnight on perceived dovish remarks from Federal Reserve Chairman Ben Bernanke who said late Wednesday a "highly accommodative policy is needed for the foreseeable future."

Benchmark 10-year Treasury notes last traded 20/32 higher in price to yield 2.597 percent, down 7.7 basis points from late on Wednesday.

The 30-year bond was up 20/32 in price with a yield of 3.644 percent, down 3.8 basis points from Wednesday.

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