U.S. Treasuries jump ahead of 10-year auction, host of FOMC speeches

The U.S. Treasuries jumped Tuesday after regional markets returned to trading, following a long weekend and are now looking forward to a host of speeches from the FOMC members Evans, Kaplan and Mester’s speech, scheduled to be held on January 17. Also, the 10-year TIPS auction, due on January 18 by 18:00GMT will add further direction in the debt market.

The yield on the benchmark 10-year Treasuries slumped nearly 2-1/2 basis points to 2.53 percent, the super-long 30-year bond yields also plunged 2-1/2 basis points to 2.82 percent and the yield on the short-term 2-year traded nearly flat at 1.99 percent by 11:10GMT.

It should be a slow start to a holiday-shortened working week in the US, with only the Empire manufacturing survey for January due for release. The headline index is expected to have stabilized at the start of this year, having fallen back in the previous two months to the middle of the range last year.

Meanwhile, the S&P 500 Futures traded 0.23 percent higher at 2,775.75 by 11:15GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -49.76 (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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