MW: Treasurys pare loss; eyes on Italy, U.S. Congress
By Deborah Levine
NEW YORK (MarketWatch) -- Treasury prices slipped modestly Monday, pushing yields up but paring most of the declines during the European session as U.S. stock futures fell amid more caution about the outlook for Italy's new government. Analysts also noted that attention is likely to turn back to the U.S. Congress and the so-called super-committee's ability to come up with a package of deficit-cutting measures by next week. "The market is stuck between risk of Europe, generally bullish, and Congress, which we think will disappoint, thus making the sideways grind all the more compelling," said bond strategists at CRT Capital Group. Yields on 10-year notes 10_YEAR +1.56% , which move inversely to prices, rose 2 basis points to 2.09%, after trading near 2.12% in overseas action.
