The U.S. Treasuries slumped Tuesday as investors remained cautious ahead of the Federal Open Market Committee (FOMC) member Kaplan’s speech, scheduled to be held on August 23 by 13:05GMT. Also, markets remain focussed to observe the speeches from the upcoming Jackson Hole Symposium, scheduled to be held on August 24 for detailed insight into debt trading.
The yield on the benchmark 10-year Treasury, jumped nearly 3 basis points to 2.20 percent, the super-long 30-year bond yields surged 2 basis points to 2.78 percent and the yield on short-term 2-year note traded 2-1/2 basis points higher at 1.32 percent by 11:50GMT.
This week, top central bankers including the Fed’s Yellen and ECB President Draghi will gather for the Jackson Hole economic symposium. Central bankers gather Thursday through Saturday in Wyoming and the markets' focus will be on Yellen’s speech Friday morning on financial stability, while Draghi will speak Friday afternoon.
Though expectations are low for either central bank chief to wow markets with any major revelation, investors will closely follow remarks in an attempt to glean insight into the future path of global monetary policy.
The 2017 symposium will focus on “Fostering a Dynamic Global Economy” in an annual event that gathers hundreds of central bankers, finance ministers, policymakers, academics, and economists in order to exchange ideas the economic issues, implications, and policy options pertaining to the symposium topic.
Meanwhile, the S&P 500 Futures traded 0.15 percent higher at 2,432.25 by 11:20GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bearish at -81.17 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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