U.S. Treasuries gain ahead of initial jobless claims, February personal consumption expenditure

The U.S. Treasuries gained Thursday ahead of the country’s initial jobless claims and personal consumption expenditure indicator, scheduled to be released today by 12:30GMT. Also, FOMC member Harker’s speech, due today at 17:00GMT will add further direction to the debt market.

The yield on the benchmark 10-year Treasuries slid nearly 1 basis point to 2.76 percent, the super-long 30-year bond yields also fell 1 basis point to 3.00 percent and the yield on the short-term 2-year too traded nearly a basis point lower at 2.27 percent by 11:40GMT.

In the US, February personal income, spending and price indicators will take centre-stage. Personal income should have continued growing at a pace close to the 0.4 percent m/m rate seen in January, although weaker interest income might add some additional downward pressure.

On the spending side, while growth in retail sector activity was unimpressive that month, higher spending on services should leave overall spending growing around 0.2 percent m/m, similar to January’s rate. And in line with the latest CPI data, the PCE deflator is likely to show a relatively modest increase in prices, with the core index likely advancing by 0.2 percent m/m.

Meanwhile, the S&P 500 Futures rose 0.35 percent to 2,616.50 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 78.29 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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