Aug. 31 (Bloomberg) -- Treasuries pared declines before Federal Reserve Chairman Ben S. Bernanke speaks on economic policy at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming.
Bonds fell earlier before a government report that economists said will show factory orders increased in July at the fastest pace this year, damping demand for relative safety of government debt. Treasuries have lost 0.4 percent in August, Bank of America Merrill Lynch indexes show.
“People are waiting for Bernanke,” said Jason Rogan, director of U.S. government trading at Guggenheim Partners LLC, a New York-based brokerage for institutional investors. “You’re seeing better buying. People expect Bernanke to be bullish.”
The benchmark 10-year yield was little changed at 1.63 percent at 9:44 a.m. New York time, according to Bloomberg Bond Trader prices. It climbed as much as three basis points earlier.
Ten-year yields have risen 16 basis points from last month, the biggest increase since March.
U.S. factory orders increased 2 percent from June, a Bloomberg News survey forecast before the Commerce Department reports the data. The Thomson Reuters/University of Michigan August index of consumer sentiment held at the level of 73.6 that the group reported two weeks ago, versus 72.3 in July, another Bloomberg survey estimated before the report today.
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