January 22, 2013 / 7:01 AM / 5 years ago

TREASURIES-Bonds slip slightly in Asia; U.S. debt ceiling in focus

TOKYO, Jan 22 (Reuters) - U.S. Treasuries slipped slightly in Asian trading on Tuesday, as investors awaited potential signs of progress this week toward averting prolonged wrangling over raising the U.S. debt ceiling.

* Republican leaders in the U.S. House of Representatives scheduled a vote on Wednesday on a nearly four-month extension of U.S. federal borrowing limit.

A stand-off about raising the ceiling in mid-2011 prompted Standard & Poor’s to downgrade its U.S. credit rating.

Fears of a prolonged argument on raising the $16.4 trillion limit have prompted some investors to buy Treasuries in recent weeks whenever yields rose on any signs of economic improvement.

* “U.S. yields are moving in a relatively narrow range lately, trapped between these factors,” said Tomohisa Fujiki, interest rate strategist for BNP Paribas in Tokyo.

* Yields on 10-year Treasuries rose to 1.864 percent in Asian trade on Tuesday, from 1.845 percent in late U.S. trade on Friday. U.S. financial markets were closed on Monday in observance of Martin Luther King Jr. Day.

* Yields on 30-year Treasuries rose to 3.051 percent, from 3.031 percent on Friday.

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