Treasuries Pare Declines After Dovish Comments by Fed’s Waller

Treasuries pared declines after Federal Reserve Governor Christopher Waller, who is under consideration to become chair of the central bank, reiterated his dovish views on US interest rates.

Short-maturity yields retreated to little-changed levels after Waller, speaking in a CNBC forum, described the US labor market as “very soft” and said rates were still as much as a percentage point above neutral.