Treasuries Snap Gain Before Yellen Speaks, Job Openings Report .
Yellen, sworn in as the central-bank chief on Feb. 3, will deliver her first monetary-policy report to Congress. Economists forecast a government report today will show job openings increased at near the fastest pace since 2008. The Treasury is scheduled to auction $30 billion of three-year notes today, $24 billion of 10-year securities tomorrow and $16 billion of 30-year bonds the next day.
“We’re still pretty bullish on the U.S. economy,” said Roger Bridges, the head of fixed income in Sydney at Tyndall Investment Management Ltd., which oversees the equivalent of $20.2 billion. He forecasts 10-year yields will finish this year at about 3.3 percent.
The yield on the benchmark 10-year note added one basis point to 2.68 percent at 7:33 a.m. in London after falling three basis points in the prior two sessions. The price of the 2.75 percent note due in November 2023 dropped 2/32, or 63 cents per $1,000 face amount, to 100 5/8, according to Bloomberg Bond Trader prices. A basis point is 0.01 percentage point.