March 26, 2018 / 2:25 PM / a year ago

TREASURIES-U.S. yields edge higher ahead of record supply week

    By Richard Leong
    NEW YORK, March 26 (Reuters) - U.S. Treasury yields rose on
Monday as the government planned to sell a record high $294
billion of debt this week, in a test of investor appetite
following last week's strong run spurred by nervousness about a
global trade war.
    The U.S. Treasury Department will sell $51 billion of
three-month bills and $45 billion of six-month bills at 11:30
a.m. (1530 GMT), followed by $30 billion of two-year notes at 1
p.m. (1700 GMT) on Monday.
    "The Treasury market is trading lower this morning as
traders begin to discount whether there will be an actual 'trade
war' or if it will be averted, especially with China," said
Kevin Giddis, head of fixed income capital markets at Raymond
James in Memphis, Tennessee.
    On Friday, China urged the United States to "pull back from
the brink" after Trump said he planned tariffs on up to $60
billion in Chinese goods, and the Chinese commerce ministry
warned that the country "doesn't hope to be in a trade war, but
is not afraid of engaging in one."                
    Bloomberg News cited China’s ambassador to the United States
saying that the country was “looking at all options” in response
to tariffs, which could include scaling back purchases of
    At 10:11 a.m. (1411 GMT), the yield on benchmark 10-year
Treasury notes             was 2.841 percent, up over 1 basis
point from late Friday. 

 (Reporting by Richard Leong; Editing by Andrew Hay)
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