| March 3
March 3 Benchmark U.S. 10-year Treasury yields
hit their highest level in more than two weeks on Friday, but
were flat in early North American trading as investors squared
positions ahead of U.S. economic data and a slate of speakers
from the Federal Reserve.
Five members of the U.S. central bank are set to give public
remarks during the day, including Fed Chair Janet Yellen who
will speak at the Executives' Club of Chicago at 1 p.m. (1800
GMT). Investors will be looking for signals that the Fed plans
to raise U.S. overnight interest rates at its upcoming March
Fed funds futures prices show traders see a 77 percent
chance of a rate rise this month, according to CME Group's Fed
New York Fed President William Dudley and San Francisco Fed
President John Williams both suggested in comments earlier this
week that the Fed is poised to raise rates sooner than later,
but Yellen is seen as the Fed's most important voice.
Benchmark 10-year notes were last little changed
in price to yield 2.489 percent. Yields touched 2.507 percent
during European trading, the highest since Feb. 15. Yields on
7-year notes rose to 2.347 percent, also the highest
since Feb. 15.
Yields on other maturities were largely constrained, with
the 2-year note opening lower and trading sideways after
touching its highest level since August 2009 on Thursday.
(Reporting by Dion Rabouin; Editing by Chizu Nomiyama)