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U.S. Government bonds rise modestly ahead of non-farm payroll data

The U.S. Treasuries were pushed modestly higher as markets look ahead to the November employment report on Friday, which is expected to reveal a +180k increase in non-farm payrolls.

The yield on the benchmark 10-year Treasury note fell 1 basis point to 2.43 percent, the yield on long-term 30-year Treasury dipped 1/2 basis point to 3.08 percent and the yield on short-term 2-year note slid 1/2 basis point to 1.14 percent by 12:00 GMT.

The November Labor Department employment situation report will be released on Friday, 2 December at 13:30 GMT. Overall, we expect non-farm payrolls will increase +180k in November, as compared to the +161k reading seen in October, alongside no change in the unemployment rate of 4.9 percent.

Crude oil prices fell more than 1 percent as investor booked profit after a long rally post-OPEC deal. The International benchmark Brent futures fell 1.09 percent to $53.35 and West Texas Intermediate (WTI) dipped 0.80 percent to $50.65

Moreover, the preliminary third-quarter GDP reading increased 3.2 percent, above market expectations for a 3.1 percent result, as compared to the 1.4 percent reading seen in the second quarter of 2016. Additionally, the country’s exports increased 10.1 percent in the third-quarter of 2016, alongside a 2.1 percent increase from imports.

Meanwhile, the S&P 500 Futures traded 5.25 points lower to 2,286.75 by 12:20 GMT. While at 12:00 GMT, the FxWirePro's Hourly Dollar Strength Index stood neutral at -30.49 (lower than -75 represents bearish trend).

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