U.S. Treasuries tad higher ahead of FOMC meeting minutes, member Williams’ speech

The U.S. Treasuries traded tad higher Wednesday after markets opened post a long trading closure ahead of the Federal Open Market Committee (FOMC) meeting minutes, scheduled for later in the day. Also, FOMC member Williams’ speech on July 6 will add further value and direction to the debt market.

The yield on the benchmark 10-year Treasury, fell 1 basis point to 2.34 percent, the super-long 30-year bond yields hovered around 2.86 percent and the yield on short-term 2-year note traded nearly 1 basis point higher at 1.41 percent by 12:00GMT.

Market interest today will centre on the release of the FOMC minutes from the June 14th monetary policy meeting where the committee raised the Federal Funds rate by another 25 basis points to 1.00-1.25 percent.

The focus will be on likely indications of the sequencing of the next steps as investors are looking for further detail on the timing of the next rate hike and the beginning of balance-sheet normalisation.

Meanwhile, the S&P 500 Futures traded 0.11 percent higher at 2,427.75 by 12:10GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 29.19 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest