U.S. Treasuries gain ahead of March FOMC meeting minutes, employment report

The U.S. Treasuries gained Tuesday as investors wait to watch the Federal Open Market Committee (FOMC) meeting minutes, scheduled to be released on April 5, besides, the employment report later this week.

The yield on the benchmark 10-year Treasury remained slumped 3 basis points to 2.32 percent, the super-long 30-year bond yields plunged 2-1/2 basis points to 2.96 percent and the yield on short-term 3year note traded 1-1/2 basis points lower at 1.44 percent.

The minutes from the Federal Reserve’s mid-March meeting will be closely read this week, mainly for one reason: Fed watchers are eager to see what members of the open market committee said about shrinking their USD4.5 trillion balance sheet.

This week, several participants have said that they expect the Fed to start reducing its balance sheet sometime this year. The minutes may provide important information on how close we are to changes in balance sheet policy

Meanwhile, the S&P 500 Futures fell 0.34 percent or 8.00 points to 2,348.00 by 11:30GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 106.29 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex