U.S. Treasuries slump on upbeat economic data; initial jobless claims, FOMC member Quarles’ speech eyed

The U.S. Treasuries slumped during late European session Thursday ahead of the country’s initial jobless claims, scheduled to be released today by 12:30GMT respectively. Also, FOMC member Quarles is scheduled to deliver a keynote speech by 13:15GMT.

The yield on the benchmark 10-year Treasuries jumped nearly 5-1/2 basis points to 3.215 percent, the super-long 30-year bond yields surged nearly 6 basis points to 3.375 percent and the yield on the short-term 2-year traded close to 3-1/2 basis points higher at 2.893 percent by 10:40GMT.

In the US, August factory orders are due on Thursday along with the usual weekly claims figures, which seem bound again to be extremely low. In terms of orders, the already reported increase of 4.5 percent m/m in bookings for durable goods (just 0.1 percent m/m excluding transportation goods) is reflected in an expected 2.0 percent gain in overall factory orders, as bookings for nondurable goods are likely to dip overall principally reflecting  a price-led decline in petrol products.    

Meanwhile, the S&P 500 Futures traded 0.43 percent lower at 2,918.75 by 10:45GMT, while at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 62.75 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex