(Published at 9:54 am)
Treasuries were rising again, extending gains from Friday's strong employment report.
The two-year note was rising 0/32, pushing the yield down to 0.766%, the ten-year note was up 6/32, lowering the yield to 3.401% and the 30-year bond was rising 14/32, pushing the yield down to 4.455%.
"Bernanke's comments helped to lift Treasuries up from early losses in Asian-time and have taken the active issues back to unchanged levels as Tuesday's New York session gets underway," said Martin Mitchell, head of government trading at Stifel Nicolaus.
Moody's has slashed Portugal's sovereign debt rating by one notch to Baa1 on concerns that the country will need short-term aid ahead of a June 5 election.
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-- Written by Andrea Tse in New York.
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