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The U.S. Treasuries plummeted during Tuesday’s ahead of the country’s ISM manufacturing PMI for the month of September, scheduled to be released today by 14:00GMT and few speeches by members of the Federal Open Market Committee (FOMC), namely, Clarida, Bullard and Bowman, all due to be delivered later through the day for detailed insight into the bond market.
The yield on the benchmark 10-year Treasury yield jumped 6 basis points to 1.734 percent, the super-long 30-year bond yield also surged 6 basis points to 2.181 percent and the yield on the short-term 2-year traded 4 basis points higher at 1.664 percent by 11:50GMT.
In the US, today will bring the manufacturing ISM for September, which is expected to show that the headline index remained consistent with stagnation in the sector. The final manufacturing PMI from Markit, which is less closely watched than the ISM survey, is likely to give a slightly more positive signal, aligning with the flash estimate which reported a modest recovery at the end of Q3, Daiwa Capital Markets reported.
Construction spending figures for August and vehicle sales numbers for September are also due. Elsewhere, the Fed’s Evans is due to speak in Frankfurt, while Governors Clarida and Bowman will speak in the US, the report added.
Meanwhile, the S&P 500 Futures remained tad 0.24 percent up at 2,985.38 by 11:55GMT.
