TREASURIES-Dip in Asia ahead of data, auction

TOKYO, Nov 24 (BestGrowthStock) – U.S. Treasuries dipped in Asia on
Wednesday ahead of data and an auction later in the day,
although risk aversion curbed losses amid tension in the Korean
peninsula.

* Market participants were approaching a $29 billion
seven-year debt sale later in the day with caution after a $35
billion five-year auction on Tuesday drew weak demand.

* Data being eyed following Tuesday’s upward revision to
third quarter U.S. GDP included October durable goods orders,
initial jobless claims, the University of Michigan consumer
sentiment index for November and new home sales for October.

* The benchmark 10-year Treasury note (US10YT=RR: ) fell 6/32
in price to yield 2.797 percent, up about 2 basis points from
late U.S. trade on Tuesday.

* The five years (US5YT=RR: ) lost 4/32 in price to yield
1.454 percent, up roughly 4 basis points.

* The 30-year bond (US30YT=RR: ) fell 6/32 in price to yield
4.202 percent, a rise of 1 basis point.

* In addition to tension in the Korean peninsula, the market
also eyed the recent fiscal turmoil in the euro zone to continue
fanning safe haven demand for government debt.

* Stoking the euro zone’s debt woes were Ireland — its
long-term sovereign rating downgraded to ‘A’ from ‘AA-‘ by
Standard & Poor’s — and its struggle to pass an austerity
budget, and continuing concerns that Portugal may need an aid
package. [ID:nSYU010701]
(Reporting by Shinichi Saoshiro; Editing by Joseph Radford)

TREASURIES-Dip in Asia ahead of data, auction