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The U.S. Treasuries traded flat Friday ahead of the country’s third-quarter gross domestic product (GDP), scheduled to be released today by 12:30GMT.
The yield on the benchmark 10-year Treasury hovered around 2.44 percent, the super-long 30-year bond yields slipped 1 basis point to 2.95 percent and the yield on short-term 2-year note traded flat at 1.62 percent by 11:05GMT.
The advance estimate of Q3 GDP is expected to show a moderation of growth from 3.1 percent q/q annualised in Q2 to about 2-1/2 percent q/q annualized, thus comfortably outpacing the 2.1 percent annualised rate of the first half of the year. And with positive contributions expected to be made from final domestic demand, net trade and inventories, growth seems likely to appear reassuringly broad-based.
The final University of Michigan consumer confidence survey for October – for which the preliminary report saw the flash headline index rise to a seventeen-year high of 101.1 – is also due for release.
Meanwhile, the S&P 500 Futures traded 0.21 percent higher at 2,567.12 by 11:35GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 124.30 (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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