U.S. Treasuries jump as investors await initial jobless claims, Fed Chair Yellen’s speech

The U.S. Treasuries jumped Wednesday as investors wait to read the country’s initial jobless claims and the Federal reserve Chair Janet Yellen’s scheduled speech on March 23.

The yield on the benchmark 10-year Treasury slumped 2 basis points to 2.41 percent, the super-long 30-year bond yield plunged 2-1/2 basis points to 3.02 percent and the yield on short-term 2-year note traded 1-1/2 basis points lower at 1.26 percent by 11:50GMT.

Global equity markets edged significantly lower on Wednesday, as increasing concerns about the timing of the new US administration’s economic growth agenda encouraged investors to move from risky to safe haven assets such as gold and government debt.

Further, market uncertainties over the United States President Donald Trump administration’s fiscal stimulus plan prevails as no details have been released so far with investors waiting for a detailed budget plan in mid-May.

Meanwhile, the S&P 500 Futures remained fell 0.12 percent to 2,339.75 by 12:00GMT, and at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -37.14 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex