SINGAPORE, May 30 (Reuters) - Longer-dated U.S. Treasuries rallied in Asia on Tuesday as bond traders welcomed a deal to suspend Washington's borrowing limit and avert a debt default, should it pass Congress.
A handful of hard-right Republican lawmakers said on Monday they would oppose the bill, which would suspend the U.S. debt ceiling until 2025, though it is expected to pass.
Benchmark 10-year yields dropped 6 basis points at the open of trade in Tokyo to 3.7596%. Thirty-year yields fell 5.5 bps to 3.9207%.
Yields fall when bond prices rise, and cash Treasury markets had been closed on Monday owing to the U.S. Memorial Day holiday. Shorter-dated bonds remain sensitive to the interest rate outlook and to growing doubts that the Federal Reserve has finished hiking.
Two-year yields were steady at 4.591%. (Reporting by Tom Westbrook. Editing by Sam Holmes)