U.S. Treasuries slump ahead of October ISM non-manufacturing PMI, Sep JOLTs job openings

The U.S. Treasuries slumped during Tuesday’s afternoon session ahead of the country’s ISM non-manufacturing PMI for the month of October, scheduled to be released today by 15:00GMT and the September JOLTs job openings data, also due today.

In addition, speeches by members of the Federal Open Market Committee (FOMC), Kaplan and Kashkari, due later in the day shall add further insights into the debt market.

The yield on the benchmark 10-year Treasury yield jumped 3 basis points to 1.819 percent, the super-long 30-year bond yield surged nearly 4-1/2 basis points to 2.316 percent and the yield on the short-term 2-year traded tad higher at 1.600 percent by 11:50GMT.

With trade talks remaining in the spotlight, major European bourses opened mixed and US index futures point to a firmer open on Wall Street. Amid optimism for a preliminary trade agreement in the near future, core government bonds continued to lose their allure, and in FX markets, the USD gained some ground especially against the so-called safe-haven currencies, Eurobank Economic Analysis & Financial Markets Research reported.

Of most interest on Wednesday will be non-farm productivity and labour costs figures for Q3, while September consumer credit data on Thursday will be accompanied by weekly jobless claims numbers.

And the week will conclude with the University of Michigan’s latest consumer confidence survey. In terms of Fed Speak, voting FOMC members Williams and Evans will speak in New York on Wednesday, while Kaplan and Kashkari are due to speak publicly later today. In the markets, the Treasury will sell 3-year notes (today), 10-year notes (Wednesday) and 30-year bonds (Thursday), the report added.

Meanwhile, the S&P 500 Futures remained tad 0.17 percent up at 3,081.12 by 11:55GMT.