TOKYO: US Treasuries stabilised in Asia on Thursday, after slipping from highs the previous day after a lackluster reception to an auction of $35 billion in five-year notes.
The yield on the 10-year notes stood at 2.20 percent , little changed from late US levels, but off two-week low of 2.16 percent hit before the auction.
Treasuries fell on Wednesday after weak demand for a five-year debt sale dampened gains, but the market is supported on the whole after Federal Reserve Chairman Ben Bernanke's assurances that US interest rates will remain low.
Market players also noted that while recovery in the US job market has been firm, other data has shown patchy recovery.
New orders for long-lasting US factory goods increased only modestly in February, supporting the view that economic growth in the first quarter could be lackluster.
The market will be looking to upcoming data, such as next week's payroll data, as well as the minutes of the Federal Reserve's policy meeting earlier this month, which is due on Tuesday next week, for clues on the thinking within the Fed on policy.
Bernanke's dovish comments have sparked speculation that the Federal Reserve may drop fresh hint of easing as early as at its next policy meeting in late April.
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