Australian government's new $66 billion package will take coronavirus economic life support to $189 billion
U.S. Treasuries gain ahead of January retail sales, industrial production data
The U.S. Treasuries gained during Friday’s afternoon session ahead of the country’s retail sales for the month of January, scheduled to be released today by 13:30GMT and the industrial production for the similar period, also due today by 14:15GMT.
Besides, FOMC member Mester’s speech, to be delivered today by 16:45GMT, will add direction to the debt market.
The yield on the benchmark 10-year Treasury yield slumped 2-1/2 basis points to 1.593 percent, the super-long 30-year bond yield plunged nearly 4 basis points to trade at 2.041 percent and the yield on the short-term 2-year slipped 1 basis point to 1.430 percent by 12:30GMT.
In the US, the most notable economic data today will be retail sales figures for January, expected to report a solid increase at the start of the year following a relatively slow holiday shopping season, Daiwa Capital Markets reported.
In contrast, the IP report for the same month seems likely to disappoint, with manufacturing output forecast to have more than fully reversed the increase in December and production cuts at Boeing a notable downside risk, the report added.
Meanwhile, the S&P 500 Futures remained tad 0.17 percent higher at 3,383.12 by 12:35GMT.