U.S. Treasurys prices rose from technical support levels on Wednesday as investors waited for U.S. employment data and speeches by major Federal Reserve officials due this week.
Prices for U.S. benchmark 10-year Treasury notes rose 8/32 in price while its yield eased to 2.647 percent from 2.67 percent late on Tuesday.
Two economic reports were supportive for Treasurys. The Mortgage Bankers Association said U.S. mortgage applications fell in the latest week. Consultants Challenger, Gray & Christmas said planned layoffs at U.S. firms rose 13.5 percent in October, citing cuts at pharmaceutical and financial firms.
But a 0.7 percent rise in The Conference Board's September leading economic indicators index released mid-morning appeared to trim gains at the long end of the maturity curve.
Strategists said the bond market was focused on more influential due later in the week: the first estimate of third-quarter gross domestic product (GDP) on Thursday and—most importantly—October nonfarm payroll data due Friday.