TOKYO: The yield on the benchmark US Treasury note edged higher in Asia on Wednesday as month-end buying that had underpinned prices abated, though concerns about the US economy and Europe's debt problems kept yields in check.
The 10-year yield climbed to 1.81 percent from 1.80 percent in late US trade on Tuesday.
The yield on 30-year bonds also rose slightly to 2.95 percent from 2.94 percent in US trading.
The yield on the five-year note was steady at 0.71 percent, continuing to plumb its lowest levels since at least the 1960s.
Later on Wednesday, the Institute for Supply Management will release its manufacturing index, and Friday brings the non-farm payroll employment report.
On Tuesday, data showed US single-family home prices fell more than expected in November and business activity in the US Midwest grew more slowly than expected in January.
"Tuesday's data were not good, and raises concerns about a more modest recovery, so investors will be paying attention to US economic data from now," said Hiroki Shimazu, a senior market economist at SMBC Nikko Securities.
The US Federal Reserve's latest policy statement also continued to weigh on yields. The central bank last week said it was likely to hold interest rates near zero until late 2014, and left the door open to further purchases of Treasuries and mortgage-backed securities to prop up the economy.
On Tuesday, bond prices were supported by the Fed's purchase of $2.52 billion in bonds due between 2036 and 2041 from $5.01 billion submitted by dealers on Tuesday as part of its Operation Twist programme, which is designed to lower long-term borrowing rates.
Europe remains in focus, as Greece continued to muster a crucial debt swap deal with creditors to avoid a looming default. A senior Greek banker said the deal is largely in place, but that final agreement depends on whether the country can demonstrate its intention to follow-through on reforms.
Portugal, which compared with Greece has just one debt payment due this year, said it has no intention of asking for more funding or extending its 78-billion-euro bailout from the European Union and International Monetary Fund.
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