2017.07.1921:48:00UTC+00Yields Stable as Investors Shifts Focus on ECB Meeting

Yields on U.S. government bonds were mostly flat as investors and traders took a see-and-wait stance for the European Central Bank policy meeting which could possibly mark the end of the ECB's bond-repurchasing program and pile into concerns that the unwinding of its ultra-loose monetary policy could hurt the market for government paper.

The yield on the 10-year Treasury note advanced 0.5 basis points to 2.268%. The two-year Treasury note's yield edged up 0.4 basis points to 1.356%, but the 30-year yield fell by 0.5 basis points to 2.846%.

Investors did not pay much attention to the economic data releases in the morning and centered their attention toward a number of central bank meetings on Thursday.

The Bank of Japan will report the result of its policy meeting, but investors expect policymakers to remain dovish after they vowed to buy a limitless volume of government bonds in order to keep the yield on the 10-year JGB near zero.

Meanwhile, the European Central Bank will also hold its meeting, in which economists expect ECB President Mario Draghi to stand by his previous statement and restate his position that monetary easing should remain accommodative.