U.S. Treasuries slip ahead of February ISM non-manufacturing data, host of FOMC speeches

The U.S. Treasuries slipped during late European session Tuesday ahead of the country’s ISM non-manufacturing PMI for the month of February, scheduled to be released today by 15:00GMT. Also, speeches by members of the Federal Open Market Committee (FOMC), Kashkari and Barkin later in the day will add further guidance to the bonds market.

The yield on the benchmark 10-year Treasury yield rose 1-1/2 basis points to 2.737 percent, the super-long 30-year bond yields edged nearly 1 basis point higher at 3.098 percent and the yield on the short-term 2-year traded 1-1/2 basis points higher at 2.559 percent by 14:00GMT.

In the US, today will bring the non-manufacturing ISM for February, which is expected to report a moderate improvement from the six-month low of 56.7 reached in January, which was likely in part due to the government shutdown, Daiwa Capital Markets reported.

New home sales figures for December – expected to slip back after a surge of 16.9 percent in November – are also due along with the final services and composite PMIs for January and the federal monthly budget statement for the same month, the report added.

Meanwhile, the S&P 500 Futures edged 0.28 percent lower to 2,787.12 by 14:05GMT, while at 14:00GMT, the FxWirePro's Hourly Dollar Strength Index remained slightly bullish at 80.76 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex