U.S. Treasuries tad lower ahead of private payrolls, FOMC speeches

The U.S. Treasuries plunged as investors wait to watch the country’s ADP non-farm employment data for July, due later today, besides the FOMC members Mester and Williams’ speech, due by 16:00 and 19:30GMT respectively.

The yield on the benchmark 10-year Treasury, jumped 2-1/2 basis points to 2.27 percent, the super-long 30-year bond yields surged 2 basis points to 2.87 percent and the yield on short-term 2-year note traded nearly 1 basis point higher at 1.35 percent by 12:00GMT.

In the US, ahead of Friday’s non-farm payrolls report focus today will be on the private sector ADP employment report, which is expected to report an increase of 190k in July.

It will also be a busy week for top-tier releases in the US. Likely of most interest will be Friday’s employment report, which is expected to report an increase of around 180k in July, a touch weaker than in June but bang in line with the average for the year to date. But while the unemployment rate is forecast to have edged back down to its more than 16-year low of 4.3 percent reached in May, average labour earnings are set to have remained subdued at around 2-1/2 percent y/y.

Meanwhile, the S&P 500 Futures traded flat at 2,473.00 by 12:10GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 33.94 (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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