Reuters: Market News: TREASURIES-Bonds steady in Asia ahead of U.S. jobs data

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TREASURIES-Bonds steady in Asia ahead of U.S. jobs data Apr 6th 2012, 05:14 TOKYO, April 6 | Fri Apr 6, 2012 1:14am EDT TOKYO, April 6 (Reuters) - U.S. Treasuries steadied in Asia on Friday, ahead of a shortened U.S. trading session during which the key nonfarm payrolls report is expected to provide further confirmation of a strengthening labor market. * Renewed concerns about some European countries' ability to fund their massive debt also lent support to bonds. Bond yields in Spain and Italy surged on Thursday, after a worse-than-expected Spanish bond auction on Wednesday. * The payrolls report is likely to show an increase of 203,000 jobs last month. * A much better-than-expected report could add to growing market perceptions that the U.S. Federal Reserve will refrain from mustering further monetary stimulus measures. * "If the jobs data are in line with expectations, there likely won't be much market reaction, but if there's a surprise, there could be very sharp moves, because activity will be thin due to the holiday," said Tomoaki Shishido, fixed income analyst at Nomura Securities. * Activity in Asia was also thin, as markets in Australia, Hong Kong and Singapore were closed for the Easter weekend. The U.S. bond market will close early on Friday, at noon. * The yield on the 10-year notes was steady from late U.S. trade at 2.18 percent, declining from 2.22 percent in Asia on Thursday. * The thirty-year bond yield edged up to 3.33 percent from 3.32 percent in U.S. trading, but was down from 3.36 percent in Asia on Thursday. Link this Share this Digg this Email Reprints

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