U.S. Government bonds mixed in quiet trade; Fed December rate hike probability finally jumps to 100 pct

The U.S. Treasuries saw mixed performance during a relatively quiet Tuesday session that witnessed data of little significance.

The yield on the benchmark 10-year Treasury note fell 4 basis points to 2.29 percent, the yield on long-term 30-year Treasury dipped 4-1/2 basis points to 2.96 percent and the yield on short-term 2-year note bounced 1 basis point to 1.10 percent by 12:00 GMT.

Kansas City Fed President George (a voter in 2016) commented that the effect of allowing the economy to overheat could produce short-term gains, but ultimately with longer-term costs. George added that consequently, she sees moving sooner, rather than later, as taking into account the long and variable lags with which monetary policy operates, and reduces the potential for 'go-stop' types of policies that create volatility, rather than subdue it.

Markets now look ahead to a greater flow of data in this week, highlighted by durable goods orders, Michigan consumer sentiment and minutes from the 1-2 November FOMC meeting on Wednesday. Additionally, markets receive a 2-year note, 5-year note and 7-year note auctions ahead of the Thanksgiving holiday on Thursday.

Meanwhile, the S&P 500 Futures traded 6.25 point higher at 2,199.25 by 12:30 GMT. While at 12:00 GMT, the FxWirePro's Hourly Dollar Strength Index stood neutral at -28.72 (lower than -75 represents bearish trend).