TOKYO: US 10-year Treasuries edged slightly lower in Asia on Tuesday but did not stray far from their recent ranges as investors awaited the outcome of Tuesday's presidential election, as well as a Greek vote later in the week on more austerity steps.
Polls indicate the election between President Barack Obama and Republican challenger Mitt Romney will be very close, as both candidates made final pleas to voters in battleground states.
If President Barack Obama wins re-election, top Senate Democratic aides expect him to move quickly, perhaps within a day, to renew his bid for a bipartisan deal to avert a "fiscal cliff" that threatens to push the country into recession.
Romney has said that if he wins the Nov. 6 election, he would not reappoint Ben Bernanke as Federal Reserve Chairman, which could lead market participants to reconsider their views on how long the central bank will maintain its commitment to easy policy.
"After the election, the market's focus will turn back to fundamentals. Recent US indicators suggest the economy appears to be showing strength, but more evidence is needed to stay the trend has changed," said Tomoaki Shishido, fixed income analyst at Nomura Securities.
On Wednesday, Greece lawmakers will vote on the latest fiscal reform steps, a plan the country needs to secure more aid and stave off bankruptcy.
Yields on 10-year Treasuries rose to 1.694 percent on Tuesday from 1.684 percent in the previous day's US trading.
Yields on 30-year Treasuries inched up to 2.887 percent from 2.871 percent in Monday's late US trading.
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