Michele, an executive at Morgan Asset Management: U.S. Treasury bonds may have bottomed out

Morgan Asset Management stated that U.S. Treasury bonds may have temporarily bottomed out, with signs showing robust foreign demand, and expectations that the Federal Reserve will support U.S. Treasuries when necessary. The company's global fixed income head, Bob Michele, said, "I expect that U.S. Treasury prices are at a low point, and yields are at a high point. In our conversations with overseas investors, they have not given up on U.S. Treasuries." Michele cited Federal Reserve data indicating that foreign central banks and reserve management agencies have recently increased their holdings of U.S. Treasury bonds. Michele also mentioned recent comments from Susan Collins, President of the Federal Reserve Bank of Boston, stating that if the situation becomes chaotic, the Federal Reserve "will absolutely be ready" to help stabilize financial markets