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TREASURIES-U.S. yields edge up ahead of 10-year auction
January 11, 2017 / 3:38 PM / a year ago

TREASURIES-U.S. yields edge up ahead of 10-year auction

* U.S. Treasury to sell $20 bln in 10-year notes
    * Investors await possible details on Trump's policies

    By Richard Leong
    NEW YORK, Jan 11 (Reuters) - U.S. Treasury yields were
slightly higher on Wednesday, holding in a narrow trading range
in advance of a $20-billion auction of 10-year notes, part of
this week's $56 billion in longer-dated government debt supply.
    In the absence of major economic data, traders and investors
are awaiting details of possible economic policies from
President-elect Donald Trump, who was scheduled at 11 a.m. (1600
GMT) to hold his first news conference since the Nov. 8
election. 
    "There hasn't been a lot of news to trade on. We do have
some marginal supply concerns," said Guy LeBas, chief fixed
income strategist at Janney Montgomery Scott in Philadelphia.
    The yield on 10-year Treasury notes was up 1
basis point at 2.390 percent. 
    Two-year yields were up slightly at 1.198
percent, while 30-year yields ticked up modestly to
2.974 percent.
    In "when-issue" activity, traders expected the latest
10-year note supply to sell at a yield of 2.441 percent
, according to Tradeweb.
    This compared with a yield of 2.485 percent at the prior
10-year auction in December.
January 11 Wednesday 10:27AM New York / 1527 GMT
                               Price                  
 US T BONDS MAR7               152-18/32    0-1/32    
 10YR TNotes MAR7              124-176/256  -0-20/25  
                                            6         
                               Price        Current   Net
                                            Yield %   Change
                                                      (bps)
 Three-month bills             0.5075       0.5152    -0.005
 Six-month bills               0.5925       0.6025    0.000
 Two-year note                 100-26/256   1.1975    0.003
 Three-year note               99-180/256   1.4767    0.002
 Five-year note                100-134/256  1.889     0.010
 Seven-year note               100-92/256   2.194     0.011
 10-year note                  96-160/256   2.3867    0.008
 30-year bond                  98-20/256    2.9725    0.002
                                                      
   DOLLAR SWAP SPREADS                                
                               Last (bps)   Net       
                                            Change    
                                            (bps)     
 U.S. 2-year dollar swap        28.50         0.00    
 spread                                               
 U.S. 3-year dollar swap        20.50        -2.00    
 spread                                               
 U.S. 5-year dollar swap         4.50         0.25    
 spread                                               
 U.S. 10-year dollar swap      -12.75         0.00    
 spread                                               
 U.S. 30-year dollar swap      -48.50         0.25    
 spread                                               
 
    

 (Reporting by Richard Leong)

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