TOKYO: Treasuries edged higher in Asia on Monday, bolstered by fears that rising oil prices will slow global growth, but moves were limited ahead of events later this week.
A spike in oil prices, driven by tension between Iran and the West, has raised fears about the impact on the world economy.
Key to this week's market direction is an appearance by Federal Reserve Chairman Ben Bernanke before policymakers on Wednesday.
"Investors will be watching Bernanke's comments to get confirmation of the Fed's commitment to keep rates low and provide stimulus as needed, or whether it might choose a different course," said Hiroki Shimazu, senior market economist at SMBC Nikko Securities.
Also on Wednesday, the European Central Bank will hold its second three-year auction of funds known as a long-term refinancing operation, or LTRO.
The yield on the 10-year note edged down to 1.97 percent from 1.98 percent in late US trade, and from 2.00 percent in Asia on Friday.
The yield on 30-year Treasuries fell to 3.08 percent from 3.10 percent in US trading, and from 3.14 percent in Asia on Friday.
Shorter-dated notes were also higher, with the yield on the two-year note falling to 0.304 percent from 0.309 percent in US trading.
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