Treasuries rose for the first time in three days as 10-year yields at the highest level in two weeks attracted investors.
Benchmark 10-year note yields declined one basis point to 2.08 percent as of 10:08 a.m. in Tokyo, according to Bloomberg Bond Trader data. The price of the 2 percent security due in August 2025 rose 2/32, or 63 cents per $1,000 face amount, to 99 10/32. The yield climbed to 2.10 percent at the end of last week, a level not seen since Oct. 9.
“We’ve moved to the higher end of the range” for yields, said John Gorman, the Tokyo-based head of dollar interest-rate trading for Asia and the Pacific at Nomura Holdings Inc. “What you can see is people taking profit, trading the range.”
U.S. data Monday will show new-home sales fell 0.4 percent in September, based on a Bloomberg survey of economists. Sales climbed to a seven-year high in August.