Treasury yields cautiously higher in Asia

The yields on the short-duration and long-duration treasuries ticked higher in Asia on fading prospects of Brexit.

At the time of writing, 10-year treasury yield was up 1.5 basis points at 1.703%. Tuesday’s high was 1.711%. 30-year yield was up almost 2 basis points at 2.516%. Meanwhile, 2-year treasury yield, which mimics short-term interest rate expectations, was up just one basis point at 0.759%.

Treasury auction of $28 billion in 7-year notes and $5 billion in 30-year Treasury inflation-protected securities or TIPs saw solid demand, which might be capping gains in the yields.

Furthermore, caution ahead of Brexit polls is supporting treasury prices, more so because Yellen said Brexit would pose a significant risk to the US economy and global markets.