U.S. Treasuries continue to fall ahead of Treasury Secretary Mnuchin’s speech

The U.S. Treasuries continued to fall Thursday as investors wait to watch the Treasury Secretary Steven Mnuchin’s speech, scheduled to be held later in the day. Also, the country’s initial jobless claims, due for release late today, will further provide direction to the global debt market.

The yield on the benchmark 10-year Treasury jumped nearly 3 basis points to 2.23 percent, the super-long 30-year bond yields also surged 2-1/2 basis points to 2.88 percent and the yield on short-term 2-year note traded over 1 basis point to 1.18 percent by 11:30GMT.

In FX markets, the USD remained under pressure as the recent string of weaker-than-expected US data and lingering market uncertainty over whether President Donald Trump will manage to push through tax reforms any time soon continued to weigh.

In other news, the House of Commons voted on Wednesday overwhelmingly in support of a snap general election to be held on June 8. On May 3, the Parliament will be dissolved and the presidential campaign will formally begin.

Lastly, hopes are riding high that this week’s slew of US Q1 earnings results will deliver good news. Some softening in the U.S. administration’s bellicose rhetoric regarding North Korea has also been met with guarded optimism.

Meanwhile, the S&P 500 Futures traded 0.29 percent higher at 2,341.00 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 47.69 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex