LONDON and PITTSBURGH - Deutsche Bank AG and Mellon Financial Corp. Monday separately denied a news report saying the companies had lost a combined $2 billion on U.S. Treasury bond trading after the U.S. government started to buy back new issues of the 30-year bond."We don't expect any significant losses, and these holdings represent a very small portion of our overall investment portfolio," said Ron Gruendl, a spokesman for Mellon, whose trading assets totaled $590 million at the end of the fourth quarter.

In January the Treasury said it would cut back on its long-term debt by reducing new issues of the 30-year bond and buying back some outstanding issues.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.