U.S. Treasuries remain sluggish post FOMC members’ hawkish comments

The U.S. Treasuries remained weaker in European trade on Wednesday after hawkish comments by a number of Federal Reserve Presidents increased the odds for a rate hike at the March 14-15 Federal Open Market Committee (FOMC) monetary policy meeting.

Also, investors will remain focused on the FOMC member Robert Kaplan’s scheduled speech later in the day.

The yield on the benchmark 10-year Treasury jumped 7-1/2 basis points to 2.43 percent, the super-long 30-year bond yield also surged 6 basis points to 3.02 percent and the yield on short-term 2-year note traded over 7 basis points higher at 1.28 percent by 11:30GMT.

The United States President Donald Trump’s first speech before the Congress failed to exert a significant market impact as he repeated many of his campaign promises but was short of specific details on the scope or extent of his various tax and infrastructure spending proposals.

Meanwhile, the S&P 500 Futures rose 0.45 percent or 10.75 points to 2,373.25 by 11:40GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 96.47 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex