U.S. Treasuries suffer ahead of initial jobless claims, host of FOMC members’ speeches

The U.S. Treasuries suffered Thursday as investors wait to watch the country’s initial jobless claims, scheduled to be released today by 12:30GMT. Also, the Federal Open Market Committee’s (FOMC) members Brainard, Quarles, and Mester are scheduled to deliver their speeches, later in the day, which shall add detailed insight into the bond market.

The yield on the benchmark 10-year Treasuries climbed nearly 3 basis points to 2.89 percent, the super-long 30-year bond yields jumped 4-1/2 basis points to 3.09 percent and the yield on the short-term 2-year traded nearly flat at 2.42 percent by 11:10GMT.

US Treasury yields remained on a steady but gradual upward trend on Thursday amid heightened supply jitters and market expectations for a gradual increase in Fed interest rates. German Bunds followed suit while EMU sovereign debt spreads narrowed.

In FX markets, the USD remained range bound and the GBP weakened against most of the major currency peers after UK March inflation data came in weaker than expected.

Meanwhile, the S&P 500 Futures slipped 0.13 percent to 2,706.50 by 11:15GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 33.11 (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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