U.S. Treasuries jump in muted trading session as investors await initial jobless claims

The U.S. Treasuries jumped amid a muted trading session that witnessed data of little economic significance and ahead of the country’s initial jobless claims, scheduled to be released on June 8.

The yield on the benchmark 10-year Treasury slumped nearly 3 basis points to 2.15 percent, the super-long 30-year bond yields also plunged close to 3 basis points to 2.81 percent and the yield on short-term 2-year note traded 1-1/2 basis points lower at 1.29 percent by 10:50GMT.

Global equity markets opened lower on Tuesday as investors adopt a cautious stance ahead of a string of major events in the remainder of this week. Former FBI Director James Comey is scheduled to testify before a Senate Committee on Thursday about an investigation into former National Security Advisor, the ECB Governing Council convenes on the same day and the UK holds snap general elections.

Market focus this week also shifts toward Italy where parliamentary discussion on a new electoral law is scheduled to start in the lower house today. In FX markets, the USD was under pressure marking a fresh six-week low against the JPY.

Meanwhile, the S&P 500 Futures traded 0.18 percent lower at 2,430.00 by 11:00GMT, while the FxWirePro's Hourly Dollar Strength Index remained slightly bearish at -76.06 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex