Treasuries were little changed, erasing losses posted after a report showed faster- than- projected jobs growth last month, as average hourly earnings were unchanged, raising concern the U.S. economy is struggling to accelerate.
Treasuries rose for a second week as Americans prepared to choose a president who will face unprecedented debt levels and the so-called fiscal cliff, which threaten to derail an economy hobbled by elevated unemployment.
Treasuries rose, pushing 10-year note yields to the lowest level in more than a week, after Group of 20 nations rebuffed German-led calls for financial support to contain Europe’s sovereign-debt crisis.
The Treasury 30-year bond yield may fall to a three-month low of 4.48 percent after declining below a key resistance level on concern Greece’s government will cut or delay payments to bond investors, according to UBS AG.
The U.S. Treasury Department may have enough cash to pay the government’s bills for days or even weeks if Congress fails to raise the debt limit before an Aug. 2 deadline, say analysts at UBS AG and Barclays Capital.
Treasury notes rose for the first time in four days as U.S. job growth slowed more than forecast, fueling bets the Federal Reserve will add more stimulus to the economy through bond purchases as soon as next week.
Treasuries rose, pushing 10-year yields to the lowest level in three weeks, as data showing slower inflation bolstered bets Federal Reserve Chairman Ben S. Bernanke has more room to add monetary stimulus to spur growth.