TOKYO: Treasuries inched down in Asia on Tuesday, taking their cue from stronger equities markets but not straying far from recent ranges as investors awaited a meeting of the Federal Reserve's policy-making group later in the session.The Federal Open Market Committee will meet on Tuesday and make its announcement at 1815 GMT. Investors will be examining its statement for signals that it remains committed to stimulus even after recent indicators have suggested the economic recovery is picking up pace.
MSCI's index of Asia Pacific shares outside of Japan was up more than 1 percent by early afternoon. "Stronger stocks led to some bond selling, but no one wants to be short ahead of the Fed meeting," said a fund manager at a Japanese trust bank.
The yield on the 10-year note edged up to 2.04 percent from 2.03 percent in late US trading on Monday. The yield on 30-year Treasuries rose to 3.18 percent from 3.17 percent in late US trading. Later on Tuesday, the Treasury will sell $21 billion in reopened 10-year notes, and then $13 billion in reopened 30-year bonds on Wednesday.
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