The U.S. Treasuries slightly gained Monday as investors remained sidelined in any major trading activity amid a silent session that witnessed data of little economic significance. Participants are now waiting to watch the Federal Reserve Chair Janet Yellen deliver a speech on November 21 by 23:00GMT for further direction in the debt market.
The yield on the benchmark 10-year Treasuries slipped 1 basis point to 2.34 percent, the super-long 30-year bond yields fell 1-1/2 basis points to 2.77 percent and the yield on short-term 2-year note remained tad lower at 1.72 percent by 10:50GMT.
The coming week’s US economic diary is compressed by Thursday’s Thanksgiving holiday. Data-wise, today the Conference Board will publish its leading index for October, with October existing home sales following on Tuesday. And Wednesday sees the release of October durables goods orders, the final University of Michigan consumer survey results for November, and the weekly jobless claims report and – ahead of a probable rate hike next month – the minutes of the October FOMC meeting.
In addition, a short session for bond markets on Friday will coincide with the release of the flash manufacturing and services sector PMIs for November. Aside from the data, the focus for markets will be the progress of the US tax reform through the Senate and a speech by soon-to-depart Fed Chair Yellen on Tuesday. In the bond market, the Treasury has a 2-year FRN auction on Tuesday.
Meanwhile, the S&P 500 Futures traded 0.09 percent down at 2,574.00 by 10:55GMT, while at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -37.86 (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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