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TREASURIES-Yields climb ahead of busy data week, new supply
July 28, 2014 / 1:15 PM / in 3 years

TREASURIES-Yields climb ahead of busy data week, new supply

* Data due in week includes GDP, payrolls
    * Fed expected to maintain dovish tone on Wednesday
    * Treasury to sell $93 bln two-, five-, seven-year notes

    By Karen Brettell
    NEW YORK, July 28 (Reuters) - U.S. Treasuries yields edged
higher on Monday but remained in a tight recent range ahead of
data and events this week that include closely watched jobs and
other economic data, a Federal Reserve meeting and $93 billion
in new coupon-bearing supply.
    The Fed is expected to maintain a dovish outlook at its July
29-30 meeting as it grapples with still slow wage growth, even
as other data point to improving momentum in the economy.
 
    The meeting will coincide with gross domestic product data
for the second quarter Wednesday, which is anticipated to see if
an unexpected contraction in the first quarter will be revised.
    Other data this week includes housing, consumer confidence,
personal income and manufacturing, along with the key employment
report for July due on Friday.
    "Everyone is staring down the barrel of a very, very crowded
data calendar," said Gennadiy Goldberg, an interest rate
strategist at TD Securities in New York.
    The focus on the U.S. economy comes after weeks of concern
about geopolitical risks, including rising tensions in Ukraine,
which have increased demand for safe haven Treasuries.
    Benchmark 10-year notes were last down 5/32 in
price to yield 2.48 percent, up from 2.47 percent late on
Friday. The yields have fallen from 2.69 percent at the
beginning of the month.
    The Treasury will sell $93 billion in new coupon debt this
week, including $29 billion in two-year notes on Monday, $35
billion in five-year notes on Tuesday and $29 billion in
seven-year notes on Wednesday. 
    It will also sell $15 billion in two-year floating rate
notes on Wednesday.
    

 (Editing by Bernadette Baum)

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