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TREASURIES-U.S. bonds hit session highs on Fed's Rosengren's remarks
January 7, 2014 / 2:25 PM / 4 years ago

TREASURIES-U.S. bonds hit session highs on Fed's Rosengren's remarks

NEW YORK, Jan 7 (Reuters) - U.S. longer-dated Treasuries prices rose to session highs on Tuesday following remarks from Boston Federal Reserve President Eric Rosengren perceived in the market as bond-friendly.

Rosengren, who is not a voter on the policy-setting Federal Open Market Committee this year, said the U.S. central bank will reduce its third round of large scale bond purchases “only gradually” because the economy, while improving, remains fragile as price growth remains too low.

Rosengren was speaking at an event to a business and industry group in Hartford, Connecticut.

Benchmark 10-year Treasury notes traded up as much as 5/32 in price with a yield of 2.943 percent, its lowest level in two weeks. The 10-year yield ended at 2.961 percent on Monday.

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