The U.S. Treasuries slumped in silent trading and as investors remain cautious ahead of the 5-year auction, besides the Federal Open Market Committee (FOMC) monetary policy meeting, scheduled to be held on July 26.
The yield on the benchmark 10-year Treasury, jumped nearly 2-1/2 basis points to 2.27 percent, the super-long 30-year bond yields surged 2 basis points to 2.85 percent and the yield on short-term 2-year note traded nearly 1 basis point higher at 1.37 percent by 11:10GMT.
In the US, today will bring the Conference Board’s consumer confidence indices for July along with the various FHFA and Case-Shiller home price data for May. The US Treasury will sell 2Y notes.
Datawise, Friday looks set to be the key day in the US, with the release of the first estimate of Q2 GDP. Despite a softer start to the quarter, expectations are for growth to have accelerated to around 2-1/2 percent q/q annualised in Q2, from 1.4 percent q/q annualised previously.
Other noteworthy data include June’s durable goods data and advanced goods trade report and Chicago Fed’s national activity index (all due Thursday). In addition, the FHFA and Case-Shiller home price indices (today) and new home sales (Wednesday). In the markets, the Treasury will sell 2Y floating-rate notes and 5Y notes (Wednesday) and 7Y notes (Thursday).
Meanwhile, the S&P 500 Futures traded 0.19 percent higher at 2,473.00 by 11:10GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bearish at -123.83 (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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