Treasurys lower ahead of Fed’s Bernanke

NEW YORK (MarketWatch) - Treasury prices started Friday lower, pushing yields higher for a second day, ahead of a speech from Federal Reserve Chairman Ben Bernanke on financial stability. Ten-year note yields rose 2 basis points to 3.85%. Bernanke’s address to the central bank’s annual meeting in Jackson Hole, Wyo., is scheduled to begin at 10 a.m. Eastern. Treasurys may also be under pressure from concern that a government investment in mortgage buyers Fannie Mae or Freddie Mac would likely lead to more debt issuance.

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