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The U.S. Treasuries plunged during Thursday’s afternoon session ahead of the country’s gross domestic product (GDP) for the second quarter of this year, scheduled to be released today by 12:30GMT, besides, the 7-year auction, also due today by 17:00GMT.
Further, the weekly initial jobless claims and goods trade balance for July will add direction to the debt market.
The yield on the benchmark 10-year Treasury yield jumped 3 basis points to 1.498 percent, the super-long 30-year bond yield surged 4 basis points to 1.980 percent and the yield on the short-term 2-year traded 2 basis points higher at 1.524 percent by 12:00GMT.
In the US, this afternoon will bring revised Q2 GDP figures, which are likely to confirm annualised growth of around 2 percent q/q, down from 3.1 percent q/q ann. in Q1. But against the backdrop of the ongoing trade war with China, likely of more interest today will be July’s advance goods trade data, along with preliminary inventory and pending home sales figures for the same month. In the markets, the Treasury will sell 7-year notes, Daiwa Capital Markets reported.
Meanwhile, the S&P 500 Futures traded 1 percent higher at 2,918.38 by 12:05GMT.
