Treasuries have risen in April in each of the past four years. This time, investors are preparing for a loss.
U.S. government securities fell as a Bloomberg News survey of economists projects data today will show manufacturing improved in March. Figures at the end of the week will indicate hiring picked up, based on another poll. Fukoku Mutual Life Insurance Co. and Daiwa SB Investments Ltd. said Treasuries may fall in the coming weeks.
“Yields will go up a little” in April, said Yoshiyuki Suzuki, the head of fixed income at Fukoku Mutual Life Insurance Co., which has the equivalent of $58.9 billion in assets. “We will see better numbers” on the economy, he said.
Treasury 10-year yields rose two basis points, or 0.02 percentage point, to 2.74 percent as of 7:07 a.m. in London, according to Bloomberg Bond Trader prices. The average over the past decade is 3.46 percent. The price of the 2.75 percent securities due in February 2024 fell 6/32, or $1.88 per $1,000 face amount, to 100 3/32.