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The U.S. Treasuries more than offset the gains seen over the past 24 hours as investors turned risk-takers after reports claimed that Italy’s 2 biggest political parties – 5-Star and the League have taken a step forward in forming a coalition government and reach an agreement on the selection of economy minister.
The yield on the benchmark 10-year Treasuries remained jumped 11 basis points to 2.87 percent, the super-long 30-year bond yields surged 8-1/2 basis points to 3.05 percent and the yield on the short-term 2-year traded 9 basis points higher at 2.41 percent by 11:40GMT.
In the US, the second estimate of Q1 GDP, due tomorrow, is not expected to deviate from the preliminary growth reading of 2.3 percent q/q annualized. Advance goods trade report for April as well as the ADP employment figures will be of interest to financial markets too, Daiwa Capital Markets reported.
Meanwhile, the S&P 500 Futures rose 0.50 percent to 2,705.50 by 11:45GMT, while at 11:00GMT, the FxWirePro's Hourly Dollar Strength Index remained neutral at -25.53 (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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