Wednesday, 29 February 2012 20:38
NEW YORK: US Treasury debt prices rose modestly on Wednesday, aided by month-end buying, as investors turned their attention to Federal Reserve Chairman Ben Bernanke's semi-annual testimony to Congress on monetary policy on Wednesday and Thursday.
"Month-end today has surely lent at least a little support to the market even if the extensions are basically average," said David Ader, government bond strategist at CRT Capital Group in Stamford, Connecticut.
Benchmark 10-year notes were up 3/32, their yields easing to 1.93 percent from 1.95 percent late Tuesday.
The European Central Bank's offer of 530 billion euros in cheap three-year funds to European banks in a move designed to ease tension in the banking sector also seemed to lift all bond boats, those of riskier sovereign debt as well as safe havens like US Treasuries and German bunds.
Italian government bond yields slid to multi-month lows and Spanish yields fell after the European Central Bank's ...