Treasury 30-year bond yields touched the lowest level in morethan a week before the Federal Reserve opens a two-day policymeeting amid speculation on whether it will take further steps toboost economic growth.

Long bonds briefly erased gains after the Fed bought $1.92billion of long-term U.S. securities. Treasuries erased earlylosses amid concern European leaders will struggle to stem theirdebt crisis even after pro-bailout parties in Greece won enoughvotes to form a government. Spanish bond yields climbed to morethan 7 percent for the first time in the euro era.

“The market shrugged off the good news from Europe and continuesto consolidate around these levels,” said Jason Rogan, director ofU.S. government trading at Guggenheim Partners LLC, a NewYork-based brokerage for institutional investors. “A lot of peopleare waiting for the Fed, as there are still tons of questions, anda lot of people are waiting on the sidelines to see whathappens.”