U.S. Treasuries more than offset previous gains on improved investors’ sentiments on news of Italy’s political settlement                  

The U.S. Treasuries more than offset the gains seen over the past 24 hours as investors turned risk-takers after reports claimed that Italy’s 2 biggest political parties – 5-Star and the League have taken a step forward in forming a coalition government and reach an agreement on the selection of economy minister.

The yield on the benchmark 10-year Treasuries remained jumped 11 basis points to 2.87 percent, the super-long 30-year bond yields surged 8-1/2 basis points to 3.05 percent and the yield on the short-term 2-year traded 9 basis points higher at 2.41 percent by 11:40GMT.

In the US, the second estimate of Q1 GDP, due tomorrow, is not expected to deviate from the preliminary growth reading of 2.3 percent q/q annualized. Advance goods trade report for April as well as the ADP employment figures will be of interest to financial markets too, Daiwa Capital Markets reported.

Meanwhile, the S&P 500 Futures rose 0.50 percent to 2,705.50 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -25.53 (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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