TREASURIES-Edge up in Asia as stocks sag, data eyed

Reuters - Tuesday, November 24

TOKYO, Nov 24 - U.S. Treasuries edged up in Asia on Tuesday, extending gains ahead of U.S. data later in the day as the region's stock markets sagged with investors taking a breather after recent advances.

* Midterm notes were capped ahead of a five-year sale later on Tuesday.

* Treasuries had gained on Monday on strong year-end demand and a well-received two-year tender, and focus was on whether the market would be able to absorb another batch of fresh supplies. [ID:nN23306628]

* The MSCI index of Asia Pacific stocks traded outside Japan <.MIAPJ0000PUS> lost 0.5 percent and Tokyo's Nikkei stock average <.N225> dropped 1 percent despite a solid performance on Wall Street the previous day.

* Following upbeat U.S. home sales data released on Monday, market participants were waiting for numbers including revised third quarter U.S. GDP and consumer confidence figures later on Tuesday for fresh trading cues.

* Also in focus were the November Federal Reserve meeting minutes to be released on Tuesday. These are expected to provide insight to the Fed's decision to specify conditions under which it can keep rates low for an "extended period" and to reduce the size of its agency debt purchase programme to $175 billion to $200 billion, analysts at Barclays Capital said.

* T-note futures climbed <TYv1> 5.5/32 to 119-25.5/32.

* Five-year notes <US5YT=RR> rose 2/32 in price to yield 2.153 percent, down 2 basis points from late U.S. trade on Monday. The benchmark 10-year note <US10YT=RR> gained 3/32 in price to yield 3.338 percent, down 1.5 basis points.

* The 30-year bond <US30YT=RR> climbed 5/32 in price to yield 4.266 percent, down 1 basis point. ((shinichi.saoshiro@thomsonreuters.com; Reuters Messaging: shinichi.saoshiro.reuters.com@reuters.net; +81-3-6441-1774)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))

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