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The U.S Treasuries lost motion Tuesday ahead of the country’s ISM manufacturing Purchasing Managers’ Index (PMI) for the month of April, scheduled to be released today by 12:30GMT amid an otherwise, silent trading session.
The yield on the benchmark 10-year Treasuries jumped nearly 2 basis points to 2.95 percent, the super-long 30-year bond yields also climbed 2-1/2 basis points to 3.12 percent and the yield on the short-term 2-year traded tad higher at 2.49 percent by 12:00GMT.
Manufacturing ISMs and PMIs for April alongside the construction spending data for March are the most notable data releases in the US today. The headline manufacturing ISM index was strong and stable, registering readings above 59.0 in each of the previous four months.
But while the preliminary PMI showed a small improvement in manufacturing sentiment that month, the ISM index is expected to ease slightly. Nevertheless, it should still remain at a historically high level suggesting that conditions in the manufacturing sector remained strong at the start of Q2, Daiwa Capital Market reported.
Meanwhile, the S&P 500 Futures slipped 0.07 percent to 2,645.25 by 12:05GMT, while at 12:00GMT, the FxWirePro's Hourly Dollar Strength Index remained highly bullish at 131.49 (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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