US Treasuries Win Some Respite as Key 30-Year Auction Looms

The US government bond market stabilized — following one of its worst days this year on Friday — as investors counted down to an auction of 30-year securities that will offer a fresh test of demand for the beleaguered securities.

An early rally paced by gains for European bonds got back on track after stalling briefly in early US trading on Monday, leaving yields across maturities lower by two to five basis points. They retain most of the increases sustained Friday, when stronger-than-expected US employment data prompted traders to traders dial back Federal Reserve interest-rate cut expectations.