U.S. Treasuries lose ground ahead of initial jobless claims, Fed Chair Powell’s Jackson Hole Symposium

The U.S. Treasuries lost ground Thursday ahead of today’s release of the weekly initial jobless claims and 5-year auction, both scheduled for later today. A, Federal Reserve Chair Jerome Powell is scheduled to deliver a keynote speech at the Jackson Hole Symposium, starting later today for further insight into bonds trading.

The yield on the benchmark 10-year Treasuries rose 1/2 basis point to 2.82 percent, the super-long 30-year bond yields flat at 2.98 percent and the yield on the short-term 2-year traded nearly 1-1/2 basis points higher at 2.60 percent by 10:20GMT.

FOMC minutes, released overnight, stated that many participants suggested it would likely soon be appropriate to take another step in removing policy accommodation, which supports our view of a rate hike in September.

After yesterday’s disappointingly soft existing home sales figures for July, new home sales figures for the same month, the FHFA house price indices for June, the August flash Markit PMIs and Kansas City Fed manufacturing index, as well as the usual weekly claims numbers, are all due today. In addition, the US Treasury will sell 5Y TIPS.

Meanwhile, the S&P 500 Futures traded flat at 2,861.50 by 10:30GMT, and at 10:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at 15.15 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex