U.S. Treasuries nearly flat ahead of few FOMC speeches; May meeting minutes keep yields under pressure

The U.S. Treasuries remained nearly flat Thursday in a muted trading session that witnessed data of little economic significance. However, the hawkish FOMC May meeting minutes kept yields under control, skewed to the downside. Investors will today, remain focused on a host of FOMC members’ speeches through the day, namely Bostic and Harker.

The yield on the benchmark 10-year Treasuries remained flat at 3.00 percent, the super-long 30-year bond yields slipped nearly 1 basis point to 3.16 percent and the yield on the short-term 2-year traded tad lower at 2.52 percent by 11:15GMT.

In the US, today’s data-flow includes the March FHFA house price indices along with April existing home sales numbers, the May Kansas City Fed activity indices, and the usual weekly jobless claims data. Meanwhile, the steady flow on new bond supply continues as the US Treasury will sell 7Y Notes.  Also, the April existing home sales report will be the main focus along with the usual weekly claims data.

Lastly, the week concludes with the advance durable goods orders report for April and final University of Michigan consumer survey outcome for May. As far as the former is concerned, lower aircraft sales will likely weigh on headline orders. Of greater interest will be core capex orders, which have broadly tracked sideways in recent months following a solid lift in Q3 2017.     

Meanwhile, the S&P 500 Futures slipped 0.05 percent to 2,729.25 by 11:20GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 1.05 (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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