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.
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 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.
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.
U.S. 10-year note yields fell the most in more than three weeks as Europe’s economy shrank and investors weighed Greece’s chances of persuading creditors to agree to a bond swap under its private-sector-involvement plan.