NEW YORK (MarketWatch) -- Treasury prices rose, with yields hitting the lows of the day in Asian trading hours just after Federal Reserve Chairman Ben Bernanke adamantly defended the central bank's latest bond-buying program, better known as quantitative easing. "Treasurys were higher overnight, with Bernanke's defense of QE2 taken at face value," said strategists at CRT Capital Group. "The Fed is still buying Treasurys." Indeed, the Fed's next buyback -- of long-term bonds -- is the only scheduled event for the session. Yields on 10-year notes (UST10Y 2.88, -0.02, -0.76%) , which move inversely to prices, fell 3 basis points to 2.87%.
