U.S. Treasuries fall ahead of January ISM non-manufacturing PMI, 3-year note auction

The U.S. Treasuries traded lower during late European session Tuesday ahead of the country’s ISM non-manufacturing PMI for the month of January and the 3-year note auction, both scheduled to for today at 15:00GMT and 18:00GMT respectively.

The yield on the benchmark 10-year Treasury yield rose 1 basis point to 2.734 percent, the super-long 30-year bond yields also edged nearly 1 basis point higher to 3.068 percent and the yield on the short-term 2-year too traded 1 basis point up at 2.543 percent by 14:05GMT.

In the US, the data focus today will be the non-manufacturing ISM and services PMI reports for January. With the labour market and the economy on a relatively firm growth track, the ISM non-manufacturing index is expected to post a reading in the upper-50 region, albeit likely slightly below the average of 58.9 seen in 2018. In the markets, the US Treasury will auction 3-year notes, Daiwa Capital Markets reported.

Meanwhile, the S&P 500 Futures edged 0.21 percent higher to 2,726.88 by 14:10GMT, while at 14:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 51.51 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex