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Treasuries Hold Two-Day Gain as Noda, Crescenzi Counter S&P Debt Warning

Bloomberg - Apr 19, 2011

Treasury 10-year yields stayed within three basis points of the lowest in three weeks as bondholders said U.S. debt will still draw investors even after its rating outlook was cut by Standard & Poor’s.

Two-year yields reached the lowest since March 24. U.S. debt is “attractive,” Finance Minister Yoshihiko Noda said at a press conference in Tokyo today, a comment that was later reiterated by Economic and Fiscal Policy Minister Kaoru Yosano. Pacific Investment Management Co., which runs the world’s biggest bond fund, said the Treasury market will still be a place for other nations to invest.

“Where will they put their reserve assets?” Tony Crescenzi, a market strategist and portfolio manager for Pimco in Newport Beach, California, said in an interview on Bloomberg Television’s “First Up” with Susan Li. “The Treasury market remains the deepest, most liquid market in the world.”

Read Full Article from Bloomberg

- Posted: 2011-04-19 05:00:28


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