The U.S. Treasuries climbed Wednesday after President Donald Trump threw US diplomacy into fresh turmoil on Tuesday by firing his secretary of state, Rex Tillerson – said to have discovered his fate via Twitter – and promoting two officials condemned by human rights groups for endorsing or overseeing torture.
Also, investors are looking forward to watch the 30-year bond auction, due later today for detailed direction in the debt market.
The yield on the benchmark 10-year Treasuries fell 1 basis point to 2.83 percent, the super-long 30-year bond yields also slipped nearly 1 basis point to 3.08 percent and the yield on the short-term 2-year hovered around 2.25 percent by 11:00GMT.
In the US, the data focus today will be on February’s producer price and retail sales data. Most notably, a rebound in retail sales seems likely after poor weather weighed in January although a drop in sales of new motor vehicles is likely to constrain the headline number.
Meanwhile, the S&P 500 Futures rose 0.23 percent to 2,779.50 by 11:05GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -118.99 (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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